Newsreports say that many indian politicans have put lot of their black money in swiss banks and if we bring them to india , the debts of india will be cleared and there will not be any poverty.
If i remember correctly, the indian govt tried to get the list of politicians who are having swiss bank accounts but failed to get that.
Do you think it is possible to get the list and money to india? Please share your views on this topic.
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We should strike at the root. Opening any bank account abroad should be strictly prohibited except for exporters/ importers and those employed outside India. Black money is the cause. People look for safe havens to conceal their black money By monitoring life styles against income reported in tax returns, black money can be unearthed. Generating black money, underreporting in tax returns and other economic offences need to be strictly dealt with. The enforecement machinery should be strenghtened. computerization of transactions and ban on using cash for payments above Rs. ten thousand are some suggestions.
G. K. Ajmani Tax consultant http://gkajmani-mystraythoughts.blogspot.com/
My opinion is that 25% of every forign bank investment of Indian citizens with some root in politics should be credited to our national wealth fund every year.
