Using your phone's internet browser
go to:  qna.rediff.com
Click and drag this link to
the Home icon in your browser.
Q.

There's some delightful news for those with Swiss bank accounts. Indians , who opted for such numbered account service, have a way to mislead anyone trying to hunt them down. For them, a new window in the tax law has flung open just when some of the doors are about to shut. The law of the land has made it possible for them to bring back the money , legitimise it by paying 15% tax, and park it in any account with a bank in India. No questions will be asked. The taxman won't harass them because it's money on which tax has been paid. Is this Welcome ?

Tags: india, money, swiss
Asked by venkatesaldevarajan, 09 May '11 07:17 pm
  Invite a friend  |  
  Save  |  
 Earn 10 points for answering
Answer this question  Earn 10 points for answering    
4000 characters remaining  
  
    
Keep me signed inNew User? Sign up

Answers (5)

 
1.

The step is indeed very good.But I have my doubts as to how successful it will be in practical.The money in Swiss bank belongs to our politicians and big shot businessmen.when their money is quite safe in Swiss bank why will they opt to bring it back here and pay 15% tax.As such due to it's business ethics swiss bank will not disclose the names of it's accountholders and even if it does so the big shot politicians will never initiate any action against the defaulters.Perhaps this step is just a step in mockery , just to pacify all the people who are demanding it , ands practically it may have no use at all.
Answered by HEMANT MEHTA, 09 May '11 07:23 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
2.

No way. if money earned by the individual through hawala or Bofors commision than now it is legitimate by paying only 15%? Indian honest salaried person paid higher tax with usual surcharges during that period,its not the fair practice at all
Answered by sushil trivedi, 09 May '11 07:26 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
3.

Yes long live the cheats of the nation,

these politicians are aiding in the looting of the nation
Answered by rajnikant raiyarela, 09 May '11 07:19 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
4.

All fake :D dont worry,, people who know how to hide it in first place,, can do it as many more time S :D
Answered by conviction, 09 May '11 07:18 pm

 
  
Report abuse
Useful
 (1)
Not Useful
 (0)
Your vote on this answer has already been received
5.

Need to know more about it !
Answered by vilas manohar deshpande, 28 Jun '11 10:02 pm

 
  
Report abuse
Useful
 (0)
Not Useful
 (0)
Your vote on this answer has already been received

Ask a Question

Get answers from the community

600 characters remaining

Related Answer

Q.
A

Chor Bazaar, located near Bhendi Bazaar in South Mumbai, is one of the largest flea markets in India. The word Chor means thief in Hindi-Urdu. It was ..more

Answered by LIPSIKA