The High Level Committee constituted by Finance Minister Pranab Mukherjee, in its first meeting held today, decided to seek public comments on ways to unearth black money. The Committee, headed by CBDT Chairman Prakash Chandra, was set up last month to examine ways to strengthen laws to curb generation of black money in India, its illegal transfer abroad and its recovery.

“The Committee held its first meeting today and decided to seek public comments. It discussed which laws need to be amended to bring back black money,” sources told PTI.

The meeting was held in the backdrop of the government facing flak from civil society and opposition for not doing enough to deal with the menace of black money.

The committee, consisting of officials from senior officials from the CBDT, Enforcement Directorate, Directorate of Revenue Intelligence, Currency unit and financial intelligence department, would submit its report in six months.

The Committee is expected to submit its report in six months.

To deal with the menace of black money, the government had yesterday announced setting up of another panel to suggest ways to trace tax defaulters, reveal their identity to the public and recover taxes.

Source – PTI

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0 responses to “IT department to seek public comments on black money recovery”

  1. Adnaan says:

    Pls. mail me where should i contact for giving information about huge blackmoney?

  2. Adnaan says:

    If you give me assurance of prize one percentage,I will give you a huge sort of black money..mail me…

  3. black says:

    IF I Inform About Blackmoney, With Original Data , What Action Can Take Income Tax , plese reply me

  4. Manjunath says:

    I Have Received a mail like this

    From:
    “Mr. Gupta (CitiGroup)” | Add to Address book |This is not spam

    To:

    Subject: Private & Confidential.

    Date: Fri, 17 Jun 2011 12:04:06 IST

    From: Mr Gupta
    Citi Bank Plc.

    Business Transaction.

    I`m a banker with Citi Bank, Account Auditing Department also a member of Independent Committee of Eminent Persons (ICEP) Africa. ICEP is charged with the responsibility of finding dormant bank accounts in Africa belonging to Non African indigence, which have remained dormant since 1991.

    As a banker and also a member of this committe ( ICEP), I am in a good position to transfer a left over funds into your private or companies account for partnership investment. If you are capable to handle large or small amount of money on trust and can keep secret and ready to take 50% of any amount I transfer to your account from the dormant account and I will take 50%, send your full contact information’s by return mail to enable us reach a working agreement.
    BUSINESS DETAILS:

    During one of my periodic auditing, I discovered a dormant accounts with holding balance of US$ 202,000.000.00 {Two hundred and Two million US Dollars only} that believed it belongs to Dead Politician without a registerred WILL to the account, The accounts had been dormant since so many years. The continuing efforts of the Independent Committee of Eminent People (ICEP) have since resulted in the discovery of additional dormant accounts – 63,000 in December 2010.

    I want to re-assure you that this business is risk free and you can send an empty account to receive the funds, provided you work on my instruction, I am capable to transfer up-to $ 25 Million Dollars into any corporate or private account you provided to me within 72 hours upon reaching a working understanding with me.

    Comprehensive Details upon your positive reply.

    Thanks,

    Mr Gupta
    Citi Bank Account Department.
    e-mail : gtpallz@zing.vn

  5. Mad says:

    I think the govt. Should work as a big corporate house. In which the money of shareholder is involved but they could not intervene into day to day affairs of it, but they will be fully liable for each and every improper act.
    Since most of the ministerial person don’t have required technical qualification to handle those area.though they are elected by public but it doesn’t mean they are inborn genius and have expertise ex. Finance,scientific, cultural railway, engineering etc.
    When we go for a small job in a co. Our bosses requires high potential and expertise in that small sphere of work.

    It is a very surprising that in our country all this is allocated in return for supporting and forming govt.
    It should be eliminated from our system.
    In my view govt. Should understand this and must hire the personnel of expertise level so that better result can be derived by public at large.the minister should control them only as shareholder which restrict their abnormal act, but on the same way the must be independent to handle it efficiently.
    Please support this new concept of political mgmt. and national management for India

    manoj
    managing director’s

  6. Makd says:

    I think the govt. Should work as a big corporate house. In which the money of shareholder is involved but they could not intervene into day to day affairs of it, but they will be fully liable for each and every improper act.
    Since most of the ministerial person don’t have required technical qualification to handle those area.though they are elected by public but it doesn’t mean they are inborn genius and have expertise ex. Finance,scientific, cultural railway, engineering etc.
    When we go for a small job in a co. Our bosses requires high potential and expertise in that small sphere of work.

    It is a very surprising that in our country all this is allocated in return for supporting and forming govt.
    It should be eliminated from our system.
    In my view govt. Should understand this and must hire the personnel of expertise level so that better result can be derived by public at large.the minister should control them only as shareholder which restrict their abnormal act, but on the same way the must be independent to handle it efficiently.
    Please support this new concept of political and national management for India

    manoj
    managing director’s

  7. nirmal jambukiya says:

    IF I Inform About Blackmoney, With Original Data , What Action Can Take Income Tax , plese reply me

  8. hemen parekh says:

    On 9th Day of the fast

    Here is my appeal to Baba / Anna / Pranab / Kapil / Advaniji :

    Please do not make this a personal prestige issue. Compromise for the sake of nation’s prestige.

    Settle on following compromise formula :

     Prime Minister and Chief Justice of India to be excluded from the purview of proposed Lokpal Bill

     All other ministers / judges to be included

     All MPs / MLAs to be included

     All government servants to be included, irrespective of rank

     Maximum punishment for those found corrupt to be life imprisonment

     Lokpal to be made answerable to the President of India and can be dismissed / punished by the President if deemed to be corrupt

     Lokpal shall not hold any other “ position of profit “, nor can be a retired government servant

     Black money ( whether illegally stashed abroad or within the country ) to be declared “ National Asset / National Wealth “

     Encourage black money to be repatriated legally – and without penalty – if invested in Govt approved Infrastructure Bonds / SPVs

     Gradually reduce personal income tax to a max of 15 % and Corporate tax to a max of 20%

     Start drafting a separate bill whereby voters can recall their elected representative to Panchayats / Municipalities / Legislative Assemblies / Parliament

    There are always two parties to a dispute. Any agreement reached must appear like a win-win situation to both. If any party gets a feeling that it “ lost out “, then it will find ways and means to sabotage the agreement.

    What good is an agreement that looks good on a piece of paper but just cannot be implemented ?

    Please forget the events of last few days. Make the first move towards reconciliation. Nation expects from you humility / magnanimity.Mud slinging will take you nowhere !

    With regards

    hemen parekh

    Jobs for All = Peace on Earth

    PS :

    11:30 am / Just heard Baba broke his fast. First step taken. Now it is your move, Pranabda !

  9. Mita Ghosh says:

    If any person give you some information about blackmoney maker,who is income anauthorised and make assets with black money how u give prized to informer? If i get some prize, then i inform my best knoledge of black money maker. send me reply in my mail id as early as possible.

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