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.
The PIL, filed by seven Uttar Pradesh residents, has sought the court's direction to ensure that no animal is killed during the festival, called the feast of sacrifice, which is to be celebrated early next week.
Comments
they train how to slit the throat for their kids .. no wonder ISIS militrants love throat slitting and beheading ...they rejoice the kill ... it must be banned ...countries throat slitting activities are terrorism , rapes , smugling , hawala , robbing and thefts .. needless to say who are in large no ... hahaha ... so it is the effect of this ..makla justification nodri .. upper part na slice maadi pain agda haage koltaranthe ...adu dodda rocket science nanmaklige ...haha.. 150 crores iddu ondu nobel tegello yogyathe illa ...science bagge maatu .. hogree hogree fish sales madi hogi ... delivery time aithu :)
Halal best method.
Even yogesh also certified that halal is best way. In halal method. Animals and plants doesnt feel pain.
@yogesh
Well said, that's why we say that halal method either veg or animal, is the best method. because of the speed both doesn't feel pain at all.
at last u agree Halal is the best Method. When u accidentally cut ur finger, u wont
in halal method animals don't feel pain. what about fish, which die very painfully.
stop eating fish also. fish is also vishnu's avatar, which is more holier than cow.
muslims don't eat pig, because it is dirty and filthy, carries lots of diseases
hindus don't eat cow. why. is it dirty and filthy too.
in halal method, animals feel zero pain, proved by science. it is also proved that halal food is more tastier than non halal. and there is no blood in the meat in halal method, even science says halal is the best method. even non-muslims in western countries wants halal chicken, just check the restaurant in usa name is halal guys restaurant. people stand in queue, most of them are non-muslims. next to the restaurant there is one more restaurant, which is non-halal. which is fully empty
Do animals have rights?
The vegetarian argument is that killing animals for the benefit of humans is cruel and an infringement of their rights. They put both on the same level without conceding any superiority to humans over animals. This argument is seriously flawed, because if animals had rights comparable to those of humans, they must also have equivalent duties. In other words, we must be able to blame them and punish them if they violate the rights of others. It is absurd that it should be considered a crime for humans to kill a sheep, but natural for a lion to do so. The problem stems from a misconception of the role of human life within the animal kingdom: a denial of purposeful creation within a clearly defined hierarchy degrades humans to the level of any other creature. Yet even then, the argument is illogical: Why should plants, for example, be denied the same protection from a violation of the sanctity of their life?
Is Islamic slaughter cruel?
The question of how an animal should be slaughtered to avoid cruelty is a different one. It is true that when the blood flows from the throat of an animal it looks violent, but just because meat is now bought neatly and hygienically packaged on supermarket shelves does not mean the animal didn’t have to die? Non-Islamic slaughter methods dictate that the animal should be rendered unconscious before slaughter. This is usually achieved by stunning or electrocution. Is it less painful to shoot a bolt into a sheep’s brain or to ring a chicken’s neck than to slit its throat? To watch the procedure does not objectively tell us what the animal feels.
The scientific facts
A team at the university of Hannover in Germany examined these claims through the use of EEG and ECG records during slaughter. Several electrodes were surgically implanted at various points of the skull of all the animals used in the experiment and they were then allowed to recover for several weeks. Some of the animals were subsequently slaughtered the halal way by making a swift, deep incision with a sharp knife on the neck, cutting the jugular veins and carotid arteries of both sides together with the trachea and esophagus but leaving the spinal cord intact. The remainder were stunned before slaughter using a captive bolt pistol method as is customary in Western slaughterhouses. The EEG and ECG recordings allowed to monitor the condition of the brain and heart throughout.
The Halal method
With the halal method of slaughter, there was not change in the EEG graph for the first three seconds after the incision was made, indicating that the animal did not feel any pain from the cut itself. This is not surprising. Often, if we cut ourselves with a sharp implement, we do not notice until some time later. The following three seconds were characterized by a condition of deep sleep-like unconsciousness brought about by the draining of large quantities of blood from the body. Thereafter the EEG recorded a zero reading, indicating no pain at all, yet at that time the heart was still beating and the body convulsing vigorously as a reflex reaction of the spinal cord. It is this phase which is most unpleasant to onlookers who are falsely convinced that the animal suffers whilst its brain does actually no longer record any sensual messages.
The Western method
Using the Western method, the animals were apparently unconscious after stunning, and this method of dispatch would appear to be much more peaceful for the onlooker. However, the EEG readings indicated severe pain immediately after stunning. Whereas in the first example, the animal ceases to feel pain due to the brain starvation of blood and oxygen – a brain death, to put it in laymen’s terms – the second example first causes a stoppage of the heart whilst the animal still feels pain. However, there are no unsightly convulsions, which not only means that there is more blood retention in the meat, but also that this method lends itself much more conveniently to the efficiency demands of modern mass slaughter procedures. It is so much easier to dispatch an animal on the conveyor belt, if it does not move.
Yogesh, Lol, you explained halal veg in best way... anyone can understand now.. all doubts cleared.
after sacrifice animal we are not throwing meat and not keeping meat to eat ghost. we share all the meat to poor people and our family.we are not wasting the meat. if you care that much about animal you should ban eating non veg (chicken mutton)
I am surprised to see why they dont file PIL from banning export of beef meat. Very strange. Why they are maintaining double standard.
Government can allow Indian cow meat for foreigners to eat....this is very bad and disgusting policy....
On Eid day he feels \Cruel\" other days ?
What about vegetables right? even number of studies prove that plants feel pain. Can people stop using plant and vegetable ?
Court should have right to panish if some one file the IPL which does not make any sence and causing unnessary focus, contradict the constituional rights and waste of court time etc.,"
We Muslims sacrifice animals once in a year.But our Hindu brother's sacrifices animals every now and then in the name of Balidhan.We Muslims are not bothered about the PIL.Bec we blindly believe in Almighty Allah.
You have to file PIL against killing of HUmans first
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