India to frame law to tackle NRI wedding issues; those who abandon wives may face action

Mumbai, Feb 12: The Income Tax department's Criminal Investigation wing has identified 2,000 Indian citizens who hold properties in Dubai but had failed to declare it in their IT returns.

In its ongoing crackdown on black money, the agency has identified Indian citizens who purchased properties in Dubai but failed to declare and explain the source of funds used to purchase these properties.

In the past few years, people have used shell companies to route illegal money and buy overseas properties to evade income tax.

However, the tax department has now increased its efforts to track down those involved in major tax evasion cases.

The 2,000 persons and companies identified mainly include businessmen, top professionals, and government officials.

The IT department will initiate action against the accused under the Black Money Act.

Citizens who own properties outside the country but fail to declare the source of funds or income used for the purchase could be prosecuted under the Black Money Act.

Under Section FA (Foreign Assets) of the Income Tax Act, an individual has to declare purchase and ownership of properties, assets, companies owned outside the country while filing the income tax returns annually.

In the recent drive against black money, the IT department identified 2,000 Indian nationals who failed to provide information on the same while filing IT returns.

Of the 2,000 citizens owning properties in Dubai, around 600 could not furnish details regarding purchase details.

Those who haven't been able to explain the source of funds used for the purchase of properties could be prosecuted and their properties can be attached by the agency.

Other than the attachment of the property, they can face a monetary penalty up to 300 per cent of the property value and also face imprisonment under the Black Money Act.

The properties owned by Indians in Dubai raised red flags as this pattern of parking money is used by money launderers, smugglers, underworld gangsters and drug traffickers for making payments.

It is worth mentioning that of the 2,000 citizens identified, most are residing in Mumbai, followed by Kerala and Gujarat.

The clause under section FA (foreign Assets) came into effect in the year 2011-12 and it is mandatory for people owning properties outside India to declare it in their IT returns.

Those identified by IT department could also face action under FEMA (Foreign Exchange Management Act) by the Enforcement Directorate under Section 4.

Recently the Enforcement Directorate (ED) launched a crackdown on black money parked overseas by tracking and identifying immovable assets bought overseas by Indian nationals illegally.

The move is being carried out under rules laid down under Section 4 of FEMA (Foregn Exchange Manipulation Act), 1999. Section 4 of FEMA states that no person resident in India shall acquire, hold, own, possess or transfer any foreign exchange, foreign security or any immovable property situated outside India.

On January 17, the Enforcement Directorate (ED) conducted searches at the residence of a former chief engineer of Brihanmumbai Municipal Corporation (BMC) in connection with an inquiry related to FEMA.

In the raids, the ED officials recovered documents related to the purchase of a property in Dubai in an allegedly illegal manner.

The ex-BMC chief engineer was posted with some of the most crucial wings of the municipal corporation -- the building proposal department and development plan department.

The agency did not disclose the name of the ex-BMC chief engineer but it has been learnt that he had superannuated around seven years ago from the municipal corporation.

ED, in a statement, said incriminating documents with regard to illegal acquisition of a property held in Dubai was recovered during the search operation.

The former BMC chief engineer has stated that he had purchased the property in Dubai at 'Park Island, Bonaire Marsa, Dubai' for Rs 70 lakh in 2012. The property is held jointly in his name, his spouse and son.

The retired BMC officials could not furnish any documents which would help ascertain the value of the property and also could not provide details on how the payments were made to buy the property in Dubai.

The citizens identified by the IT department recently also adopted a similar route to buy property in Delhi. It remains to be seen how the income tax department plans to penalise them.

Bengaluru, Feb 24: Raising questions about the situation in Kashmir, senior Congress leader and former Karnataka chief minister Sidddaramaiah on Monday asked the BJP heading the union government to prove 'normalcy' by hosting US President Donald Trump's event in the valley.

If @BJP4India feels Kashmir has returned to Normalcy, & If @BJP4India feels that there is no govt orchestrated violence. Now is the time to prove the same by hosting @realDonaldTrump's event at Kashmir, Siddaramaiah tweeted.

Amid concerns raised by opposition parties, the government has said efforts have been made to restore normalcy in Jammu and Kashmir which faced months of restrictions after its special status under Article 370 was scrapped in August last year.

Siddaramaiah, who is Leader of Opposition in Karnataka Assembly, in another tweet hit out at Prime Minister Narendra Modi on the long wall built near the airport in Ahmedabad allegedly to block the view of a slum, ahead of Trump's visit.

It is time for @realDonaldTrump to get inspired from @narendramodi. Inspiration to build decorative walls to hide not so decorative life!! he tweeted. The opposition Congress in Gujarat had accused the BJP- ruled civic body in Ahmedabad of building the 500-meter long wall to block the view of a slum colony. Refuting the allegations, AMC officials had said the construction of the wall, around four feet in height, was approved much before Trump's Gujarat visit was finalised.

Trump, accompanied by First Lady Melania Trump and a high-level delegation, arrived in Ahmedabad around noon on Monday for a little less than a 36-hour-long trip.

Bengaluru, June 5: Under the leadership of trouble-shooter D K Shivakumar, the Karnataka Congress is planning a political ‘ghar wapsi’ to bring back leaders who quit the party and also rope in those from other parties.

Shivakumar, the Karnataka Pradesh Congress Committee (KPCC) president, has constituted a 12-member committee headed by former minister Allum Veerabhadrappa to liaise to anchor this effort to bring back people into the party fold. 

The committee comprises of former legislators B A Hasanabba, Ajaykumar Sarnaik, Abhaychandra Jain, Satish Sail, Prafulla Madhukar, former MPs R Dhruvanarayan and BN Chandrappa, MLA V Muniyappa, former mayor Sampath Raj, Mahila Congress leader Kripa Alva and former KPCC general secretary V Y Ghorpade. 

This move comes more than a year after over a dozen Congress MLAs defected and joined the BJP, leading to the collapse of the Congress-JD(S) coalition government. Also, several influential leaders quit the party ahead of the Lok Sabha elections last year.

The constitution of this committee also coincides with disgruntlement brewing within the ruling BJP. 

“Many people who left the party and others have applied (to join Congress). Many have met me also. I felt it wouldn't be right for me to make a decision. So, this committee has been constituted,” Shivakumar said. “They will process all applications and send it to the KPCC.” 

According to Shivakumar, any person wanting to join the Congress should accept the party’s leadership and its ideology. “Importantly, they should be first accepted by the cadre. If there's no acceptance from the cadre, then what's the point?” he said.