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Arun Jaitley: All you want to know about FM’s speech on black money in 5 pts

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Tue May 17 2016, 2:57 pm
  • Arun Jaitley, Arun Jaitley news, Panama Papers, Panama Papers news, Panama Papers latest news, SAMVAAD conclave, Arun Jaitley latest news, latest business news

    With Panama Papers and tax evasion grabbing the eyeballs in puclic space, Finance Minister Arun Jaitley in speech on Monday explained the tasks before the Narendra Modi government and what it is doing about handling the issue of corruption, tax evasion and offshore accounts. Check out Arun Jaitley speech highlights at India TV's 'SAMVAAD' conclave:

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    1. Arun Jaitley: The government is making "all-out efforts" to unearth black money stashed away in offshore accounts. During the year, the government detected Rs 71,000 crore domestic tax evasion. Those who have not utilized the government's "compliance window" to declare black money will face sleepless nights. (Express photo)

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    2. Arun Jaitley: "We framed the anti-black money law and asked people to disclose their black money and pay 60 percent tax instead of 30 percent plus penalty. In HSBC accounts details, while the UPA government did nothing, we assessed the accounts and filed criminal prosecution against each person. We also assessed and filed prosecutions against holders of Liechtenstein accounts. In Panama (Papers), there are two kinds of people. Few people have kept money outside the country with RBI's consent and few without it. Notices have been sent to all illegal account holders and inquiries are on".(AP)

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    3. Arun Jaitley: "In our budget, I had announced that starting June 1 this year, whoever has domestic unassessed income, should pay tax with penalty and declare it. Till date, no government took such steps, you can say all-out efforts are being made to unearth black money." (Reuters)

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    4. Arun Jaitley: "I challenge my Congress and UPA friends to tell me what they have done compared to our two year tenure to bring back black money. We are bringing back money through these steps and those who are not declaring through compliance window, will face the sleepless night". (AP)

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    5. Arun Jaitley (on the AgustaWestland issue): "The bribe in the deal is clear cut. This is the first case in the world where the bribe-takers are behind the bars, the middleman has been identified but the person who received the bribe is yet to be identified."(AP)

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