The government of NDA’s first cabinet decision that taken on May 27, 2014. PM Narendra Modi observed and set a special investigation team (SIT), that led by retired Supreme Court judge, and manage the coordinated crackdown of black money, that plan has marked many administrative and the legislative actions since then. The government has been partially successful, with these three amnesty schemes and after the thousands of search and survey done by the income tax department, then the CBI and the Enforcement Directory yielding the disclosures of nearly Rs 1 lakh crore in unaccounted for income. By the Income Disclosure Scheme of 2016, they bought more than Rs 67,000 crore into the system. That is the return of black money promised at the time of 2014 campaign it is the matter of legal process in the cases where it has recognized, but the initiatives like demonetisation are intended to the signal as a preparedness to take on undivided interests.
By the demonetization of Rs 500 and Rs 1,000 notes, the last year was the most visible and the controversial anti-corruption measures was undertaken by the government of Modi. It has taken out the 85% of the money in circulation, and it forced the people to deposit the cash in their accounts. Nearly 18 lakh of individuals have been recognized by their transaction of Access the permitted deposit limits.
The IT department has separated close to one lakh of high-risk People who are ready to face the investigation, each of them should make deposits of over more than Rs 25 lakh in bank accounts from unverifiable origins of income. By the report of the government sent through demonetization was unambiguous: unaccountable cash collections were not safe. The government’s original actions have also served the political purpose of sending out the message that Modi is serious about fighting black money and hurting the rich in the process.
The government’s original actions have also served the political purpose of sending out the message that Modi is serious about fighting black money and hurting the rich in the process.
The first amnesty scheme is mainly for the foreign assets, that launched in 2015 it yields nearly Rs 2,500 crore in taxes uncovered over Rs 4,000 crore in the foreign assets. From the income disclosure scheme of 2016, it is for the domestic black money holders by that they deliver nearly Rs 30,000 crore in tax as well as penalties.
Then, where the PM’s Garib Kalyan Kosh for people is to disclose unaccounted that is for income post demonetisation, that is believed to have received over Rs 4,000 crore. The IT department had launched its ‘operation on clean money on January 31, by conducting that about 9,000 search and survey operations against higher tax evaders. The Department directed to unearth an additional of Rs 23,000 crore in undisclosed income. Now they are raiding the high-profile politicians and their fronts.
Legislative and other initiatives
The PMLA was changed in 2015, allowing for the “attachment of property equivalent in value held within the country where the assets or profits of crime held outside.”
Then the government also ordered the Black Money (Undisclosed Foreign Income and Assets), and Imposition of Tax Act to appropriate black money stashed abroad.
These projects complemented the renegotiation of several double taxation avoidance agreements and the tax information exchanged through agreements with tax havens which helped the government to receive real-time information on round-tripping of unaccounted for income.
The Benami Transaction (Prohibition) Amendment Act, 2016, gives for attachment and confiscation of benami assets and jail of up to seven years.
Geetha Govindam Telugu Movie (2018) | Cast | Songs | Teaser | Trailer | Review
Geetha Govindam is an upcoming Telugu romantic comedy film starring Vijay Deverakonda, Rashmika Mandanna in the lead roles. The film...
Richa Panai Wiki, Biography, Age, Family, Movies, Images
Richa Panai is an Air hostess for Kingfisher Airlines and an actress who appears in the Bollywood, Mollywood, Tollywood and...
Ram (Director) Wiki, Biography, Age, Movies, Family, Images
Ram is an Indian movie director, who predominantly works in Tamil film industry. He made his debut directional movie Kattradhu Thamizh...
Aditi Sharma Wiki, Biography, Age, Family, Movies, Images
Aditi Sharma is an Indian Actress, who has appeared in the Hindi and Punjabi films. She has acted in the...
Nikki Galrani Images, HD Photos, Wallpapers, Latest Photoshoot
Nikki Galrani is an Indian film actress, model and fashion designer who featured in Tamil, Telugu, Malayalam and Kannada Films....
Sayani Gupta Wiki, Biography, Age, Family, Movies, Images
Sayani Gupta is an Indian film actress who predominantly appears in Hindi films. A graduate from the Film and Television Institute...
OM Tamil Movie (2018) | Cast | Songs | Teaser | Trailer | Review
OM is an upcoming Tamil movie written and directed by Bharathirajaa. Produced by Manoj Kumar of Manoj Creations, the movie features Bharathirajaa,...
Kavi Shastri Wiki, Biography, Age, Movies, Family, Images
Kavi Shastri is a British film and television actor, as well as, he is one of the established personality in the...
Trisha Krishnan Images, HD Photos, Wallpapers, Latest Photoshoot
Trisha Krishnan is an Indian Actress who is mostly seen in Telugu and Tamil film Industries. In a quick time,...
Vote to Bring back your favorite evicted contestant Back | Bigg Boss Telugu 2
Star Maa Bigg Boss Telugu Season 2: The first promo of the Bigg Boss Telugu Day 43 is out. In the video,...
Entertainment1 week ago
Super Singer Vote Season 6 | Online Vote | Results | Contestants Details | Vijay TV | Winner
Bigg Boss6 hours ago
Star Maa Bigg Boss Telugu Vote | Season 2 | Contestants | Eliminations
Bigg Boss5 hours ago
Bigg Boss Vote Tamil Online Season 2 | Contestants List | Elimination Details
Bigg Boss6 hours ago
Asianet Bigg Boss Malayalam Vote | Contestants List | Eliminations
Bigg Boss6 hours ago
Bigg Boss Marathi Vote | Contestants List | Elimination Details
Entertainment3 months ago
Enga Veetu Mapillai Contestant Lists, Elimination, Winner, Results
Chennai Super Kings6 months ago
Indian Premier League 2018: Chennai Super Kings Team | CSK IPL 2018 Players List
Actor4 months ago
Agatha Magnus (Enga Veetu Mapillai Contestant) Wiki, Biography, Age, Details