Siddaramaiah instructs CID to fast track Kalburgi killing probe

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, May 3: Undergraduate and postgraduate students skipping online classes held by their universities run the risk of being debarred from writing their exams. 

State universities, which are monitoring the attendance of online classes, are asking their affiliate colleges to send the monthly online attendance details and this would reflect in their regular attendance. This would apply to those studying professional courses like medicine and engineering. 

State medical education minister Dr K Sudhakar has asked all medical colleges to regularly send attendance details to the Rajiv Gandhi University of Health Sciences (RGUHS).

RGUHS vice-chancellor Dr Sachidanand confirmed to DH that the varsity is indeed monitoring the attendance of students. “Online classes are equal to classroom teaching. (Such method of conducting classes) are necessary during the Covid-19 pandemic and the nationwide lockdown,” he said.

According to the Supreme Court directions, students should have 75% attendance to be eligible to appear for the final exams. There could be relaxations if they have health issues. If students are bunking online classes, it would reflect on their minimum attendance necessary to appear for the exams, the vice-chancellors of state-run varsities said.

Bangalore University vice-chancellor Prof K R Venugopal said most of the students are attending online classes and teachers are messaging the parents of those who are irregular. “(Of course) if they fall short of the minimum attendance, they won’t be allowed to appear for the exams,” he said.

Bengaluru North University vice-chancellor Prof T D Kemparaju said the administration has asked its teachers to record details of students attending online classes and update the university.

Mixed signals 

Meanwhile, the University Grants Commission (UGC) on Wednesday issued guidelines directing all universities to treat the lockdown period as “deemed as attended” for students and research scholars. Experts pointed out that the order would prompt students not to take the online classes seriously.

“Arrangements have been made at the state varsities to make students attend online classes compulsorily and students are also serious about it. Now, because of the UGC guidelines, they may bunk classes,” said the vice-chancellor of a state-run university.

Bengaluru, Jun 27: Karnataka witnessed the biggest single-day spike in Covid cases on Saturday as 918 cases were recorded and 11 more deaths were linked to the pandemic. 

In Bengaluru alone, 596 more people tested positive for the infection in the last 24 hours as three more fatalities were also confirmed by the Department of Health and Family Welfare Services.

Following is the district wise tally: