Category Black Money and Tax Havens

Black money and Tax havens- E Book

A brief introduction to “Black money and Tax havens” — This E book  is the  trailer to my main book– to be released in August. https://www.amazon.in/dp/B072QYDG4Z?_encoding=UTF8&keywords=a%20brief%20introduction%20to%20black%20money&portal-device-attributes=desktop&qid=1497531015&ref_=sr_1_1&sr=8-1

Report on Black money more secret than black money

Finance Minister of India Arun Jaitley declared that “No estimation of black money either before or after Nov 8” http://indianexpress.com/article/business/economy/black-money-demonetisation-income-tax-department-arun-jaitley-finance-ministry-4430281/   Being a lawyer and in the new Avatar of FM has its own pitfalls. He does not seem to have knowledge of history of work done by his own department. Report of the Committee, […]

Demonetization: Restoring Probity in public Life

By Prof.R.Vaidyanathan The dramatic announcement by the Prime Minister on the 08-11-2016 regarding De-monetising Rs 500 and Rs 1000 notes from the midnight of the same day has electrified the national mood and has altered the paradigm of public life. All black money is not due to corruption even though all corruption results in black […]

‘Success of Centre’s move depends on how many notes return to the banks’

http://www.thehindu.com/todays-paper/tp-national/success-of-centres-move-depends-on-how-many-notes-return-to-the-banks/article9331368.ece IIMB Professor R. Vaidyanathan who favoured the idea of doing away the now-demonetised high-denomination notes says there is more to be done Years after he batted for the idea of doing away with the now-demonetised high-denomination notes, R. Vaidyanathan, professor of Finance and Control at the Indian Institute of Management Bangalore, says there is […]

It Could End Womb-To-Tomb Corruption

http://timesofindia.indiatimes.com/city/bengaluru/It-could-end-womb-to-tomb-corruption/articleshow/55363958.cms When Prime Minister Narendra Modi announced the demonetization drive, Prof R Vaidyanathan at IIM-Bangalore was not surprised. For, in 2011, the professor, who teaches finance and accounting, had alerted the BJP about the need to do away with Rs 500 and Rs 1,000 notes if India had to curb black money. Vaidyanathan, who held […]

Demonetisation Not a Long Term Solution, Will Help Reduce Black Money Transactions

http://bangalore.citizenmatters.in/articles/iim-bangalore-professor-vaidyanathan-on-500-1000-note-ban Starting November 8th midnight, Indian currency notes of Rs 500 and Rs 1,000 ceased to circulate. The Prime Minister in his address said that the decision was taken to root out the black money, fake currency and corruption menace. The sudden-ness and immediacy of this decision has been notable, but a less known fact […]

Criminalise holding in cash Rs 10 lakh or more, says IIM don

http://www.business-standard.com/article/news-ians/criminalise-holding-in-cash-rs-10-lakh-or-more-says-iim-don-116111300491_1.html A multi-pronged strategy of criminalising possession of Rs 10 lakh or more in cash and cutting down discretionary powers of government officials are some of the steps the government should take to tackle corruption, says IIM- Bangalore don R. Vaidyanathan. “Demonetisation is the only step. The government should also make it a crime to […]

All that is black is not corrupt

By Prof. R Vaidyanathan on 25 Oct 2016 All black money is not due to corruption, even though all corruption results in black money. If a government servant gets bribe for a favour done, then he generates black money since that amount will not be shown for tax. But if you go to a doctor […]

The absurdity of Personal Income Tax Declarations: Tycoons pay peanuts

On 06th October 2016 Let us call it as Z Family –  One of the richest in the country Relationship Income AY 2013-14 Tax paid Mother Rs.1.6 Crores Rs.34 Lakhs Elder Daughter in law Rs.4.45 Lakhs Rs.25228 Elder Son Rs.15.40 Crores Rs.4.44 Crores Younger Son Rs.10.23 Crores Rs.3.12 Crores A whistleblower from Income Tax (ITO) […]

Panama Papers

The Panama Papers are an unprecedented leak of 11.5m files from the database of the world’s fourth biggest offshore law firm, Mossack Fonseca located at Panama. The records were obtained from an anonymous source by the German newspaper Süddeutsche Zeitung, which shared them with the International Consortium of Investigative Journalists (ICIJ). The ICIJ then shared them with a […]