Taxes In India Quotes

If Independence is granted to India, power will go to the hands of rascals, rogues, freebooters; all Indian leaders will be of low calibre and men of straw. They will have sweet tongues and silly hearts. They will fight amongst themselves for power and India will be lost in political squabbles. A day would come when even air and water would be taxed in India.

Many people today think that the Tea Act—which led to the Boston Tea Party—was simply an increase in the taxes on tea paid by the American colonists. That's where the whole "Taxation Without Representation" meme came from. Instead, the purpose of the Tea Act was to give the East India Company full and unlimited access to the American tea trade and to exempt the company from having to pay taxes to Britain on tea exported to the American colonies. It even gave the company a tax refund on millions of pounds of tea that it was unable to sell and holding in inventory. In other words, the Tea Act was the largest corporate tax break in the history of the world.

At the beginning of the eighteenth century, as the British economic historian Angus Maddison has demonstrated, India’s share of the world economy was 23 per cent, as large as all of Europe put together. (It had been 27 per cent in 1700, when the Mughal Emperor Aurangzeb’s treasury raked in £100 million in tax revenues alone.) By the time the British departed India, it had dropped to just over 3 per cent. The reason was simple: India was governed for the benefit of Britain. Britain’s rise for 200 years was financed by its depredations in India.

The Rakshasa," said Percy pedantically, "are a different breed altogether from our vampires. Much in the same way that poodles and dachshunds are different breeds of dog. Rakshasas are reviled in India. Their position as tax collectors is an attempts by the crown to integrate them in a more progressive and mundane manner." Rue said, "Oh, how logical. Because we all know ordaining someone as a tax collector is the surest way to get them accepted by society.

My brothers and sisters of America, there is not the least shadow of hope that India can ever be Christianised. After two hundred years of vain efforts and of spending millions of dollars with the prestige of the conqueror and backed by British bayonets, Christianity is not supported by the converts themselves. Every bit of Protestant Christianity in India is maintained partly by the money flowing from England and America, and partly by taxes imposed upon the Hindus against their will, which must be paid although the people starve. The people of India as a whole are saturated with religious and philosophical thought. They think and ponder on spiritual matters from childhood to death. Even the street-sweeper is frequently more profoundly versed in subtle metaphysics and divine wisdom than the missionary sent to convert him.

Although Manmohan Singh, the helmsman, got the credit, it was Rao who took the tough and aggressive decisions and provided the energy and political support. He was shrewd and knew how to deal with dissent. The manner in which he pushed through the industrial policy in the cabinet is an example. At the same time, the reforms would not have happened without Manmohan Singh. To the extent that there was one, he created the road map. In a brilliant move, he set up a set of committees—bank reform under Narsimhan, tax reform under Chelliah, and insurance reform under Malhotra—and they provided crucial intellectual sustenance and legitimacy for reform measures in these areas. It needed Manmohan Singh to come and change the nation’s mind-set to growth. But Manmohan Singh is a reticent man and cautious by nature. On his own, without Rao’s constant support, he would not have done it. The new trade policy would not have come about as speedily without Chidambaram. Varma was a terror as the head of the steering committee and he provided the momentum for the implementation of the reforms for two years. He knew the system well, and he played it in favor of the reforms. Varma’s crucial contributions, I believe, have not been understood or appreciated. In the end, all three—Manmohan Singh, Chidambaram, and Varma—derived their strength from Narasimha Rao.

Customs inspectors could not stop the export of software through telephone lines; labour inspectors could not stop software engineers from talking to customers in America at night; excise inspectors could not harass the IT firms because the government did not levy tax on services. Much like Gurgaon, India’s knowledge economy literally grew at night when the government slept.

Vodafone took India to court for trying to make them pay tax. Vodafone won. US agribusiness giant Cargill/ADM sued Mexico for introducing a sugar tax on soft drinks to fight childhood obesity. Cargill/ADM won. Mexico was sued for daring to put a cap on the price of water, access to which is a basic human right under the UN charter. The manufacturer won and as a result, Coca Cola is now cheaper to drink than bottled water in Mexico.9

An economically devastated Bengal became too weak to fight back the famine of 1769–70; it is estimated that 10 million, out of a population of 30 million, died. ‘In fact, British control of India started with a famine in Bengal in 1770 and ended in a famine – again in Bengal – in 1943. Working in the midst of the terrible 1877 famine that he estimated had cost another 10 million lives, Cornelius Walford calculated that in the 120 years of British rule there had been thirty-four famines in India, compared with only seventeen recorded famines in the entire previous two millennia,’ writes Robins. The Mughal response to famine had been good governance: embargo on food export, anti-speculation regulation, tax relief and free kitchens. If any merchant short-changed a peasant during a famine, the punishment was an equivalent weight in flesh from his body. That kept hoarding down.

Think about ethanol again. The benefits of that $7 billion tax subsidy are bestowed on a small group of farmers, making it quite lucrative for each one of them. Meanwhile, the costs are spread over the remaining 98 percent of us, putting ethanol somewhere below good oral hygiene on our list of everyday concerns. The opposite would be true with my plan to have left-handed voters pay subsidies to right-handed voters. There are roughly nine right-handed Americans for every lefty, so if every right-handed voter were to get some government benefit worth $100, then every left-handed voter would have to pay $900 to finance it. The lefties would be hopping mad about their $900 tax bills, probably to the point that it became their preeminent political concern, while the righties would be only modestly excited about their $100 subsidy. An adept politician would probably improve her career prospects by voting with the lefties. Here is a curious finding that makes more sense in light of what we‘ve just discussed. In countries where farmers make up a small fraction of the population, such as America and Europe, the government provides large subsidies for agriculture. But in countries where the farming population is relatively large, such as China and India, the subsidies go the other way. Farmers are forced to sell their crops at below-market prices so that urban dwellers can get basic food items cheaply. In the one case, farmers get political favors; in the other, they must pay for them. What makes these examples logically consistent is that in both cases the large group subsidizes the smaller group. In politics, the tail can wag the dog. This can have profound effects on the economy.

Though domestic black money is an expression of no-confidence in the government of India, some part of the domestic black money is used in productive activities like real estate, trade, construction, mining, transport, restaurants and other businesses. As previously stated, illicit money kept abroad is a no-confidence vote in India itself—its stability and its people. The illicit money kept in tax havens abroad is, by and large, not used for domestic purposes unless it is round-tripped through share markets or foreign direct investment (FDI) to domestic operations.

Half of India’s revenues went out of India, mainly to England. Indian taxes paid not only for the British Indian Army in India, which was ostensibly maintaining India’s security, but also for a wide variety of foreign colonial expeditions in furtherance of the greater glory of the British empire, from Burma to Mesopotamia. In 1922, for instance, 64 per cent of the total revenue of the Government of India was devoted to paying for British Indian troops despatched abroad. No other army in the world, as Durant observed at the time, consumed so large a proportion of public revenues.

Religious intolerance is an idea that found its earliest expression in the Old Testament, where the Hebrew tribe depicts itself waging a campaign of genocide on the Palestinian peoples to steal their land. They justified this heinous behavior on the grounds that people not chosen by their god were wicked and therefore did not deserve to live or keep their land. In effect, the wholesale slaughter of the Palestinian peoples, eradicating their race with the Jew's own Final Solution, was the direct result of a policy of religious superiority and divine right. Joshua 6-11 tells the sad tale, and one needs only read it and consider the point of view of the Palestinians who were simply defending their wives and children and the homes they had built and the fields they had labored for. The actions of the Hebrews can easily be compared with the American genocide of its native peoples - or even, ironically, the Nazi Holocaust. With the radical advent of Christianity, this self-righteous intolerance was borrowed from the Jews, and a new twist was added. The conversion of infidels by any means possible became the newfound calling card of religious fervor, and this new experiment in human culture spread like wildfire. By its very nature, how could it not have? Islam followed suit, conquering half the world in brutal warfare and, much like its Christian counterpart, it developed a new and convenient survival characteristic: the destruction of all images and practices attributed to other religions. Muslims destroyed millions of statues and paintings in India and Africa, and forced conversion under pain of death (or by more subtle tricks: like taxing only non-Muslims), while the Catholic Church busily burned books along with pagans, shattering statues and defacing or destroying pagan art - or converting it to Christian use. Laws against pagan practices and heretics were in full force throughrout Europe by the sixth century, and as long as those laws were in place it was impossible for anyone to refuse the tenets of Christianity and expect to keep their property or their life. Similar persecution and harassment continues in Islamic countries even to this day, officially and unofficially.

When Ayatollah Khamenei needs to make a crucial decision about the Iranian economy, he will not be able to find the necessary answer in the Quran, because seventh-century Arabs knew very little about the problems and opportunities of modern industrial economies and global financial markets. So he, or his aides, must turn to Karl Marx, Milton Friedman, Friedrich Hayek, and the modern science of economics to get answers. Having made up his mind to raise interest rates, lower taxes, privatize government monopolies, or sign an international tariff agreement, Khamenei can then use his religious knowledge and authority to wrap the scientific answer in the garb of this or that Quranic verse and present it to the masses as the will of Allah. But the garb matters little. When you compare the economic policies of Shiite Iran, Sunni Saudi Arabia, Jewish Israel, Hindu India, and Christian America, you just don’t see that much of a difference.

To begin with, even though the rich countries have low average protection, they tend to disproportionately protect products that poor countries export, especially garments and textiles. This means that, when exporting to a rich country market, poor countries face higher tariffs than other rich countries. An Oxfam report points out that 'The overall import tax rate for the USA is 1.6 percent. That rate rises steeply for a large number of developing countries: average import taxes range from around four per cent for India and Peru, to seven per cent for Nicaragua, and as much as 14-15 percent for Bangladesh, Cambodia and Nepal. As a result, in 2002, India paid more tariffs to the US government than Britain did, despite the fact that the size of its economy was less than one-third that of the UK. Even more strikingly, in the same year, Bangladesh paid almost as much in tariffs to the US government as France, despite the fact that the size of its economy was only 3% that of France.

The socialists who took over India from the British, and have only run it further into ground, and created both the problems listed at the beginning of this article, are advocating more socialist measures to solve these problems, unchallenged. The Delhi ruling elite has become an echo chamber, in which the Left’s narrative passes as high knowledge. Nobody in Delhi’s ruling class ever ventures outside this echo chamber, nobody even peaks outside, and nobody learns economics. They have no idea as to what money is, where it comes from, where it goes; what jobs are, how jobs are created, and where they come from, and where and why they disappear. In fact they have successfully convinced people that we have already created enough and needed prosperity and the only problem that needs to be solved is that of just and fair redistribution, for which they, the Leftists, need some more powers, some more laws, and some more government rules and regulations and departments to enforce them. This in a country in which only 3 crores out of 125 crore pay income tax, and in which per capita income is less than 1/30th of the developed world, and only about 4 percent hold jobs in the organised sector.

The government doesn’t care if our kids learn to think or learn for the sake of learning, as long they learn to love their country, and grow up and pay taxes. How much of what we learnt in 10 years of our schooling actually comes handy in our day-to-day lives? Why can’t we learn useful skills, like cooking, in school that actually come in handy when it comes to survival? Does schooling need to last for 10 years? Is it possible to complete schooling in 7 years? Nobody knows and schools have done a great job at not letting us ask questions. We live in times where we cautiously invest 4 years in undergrad schools or 2 years in B-schools in the hope that we acquire strong skills or at least secure a job. Schooling, as it exists, is a 10-year course that neither helps us get a job nor imparts a skill and unfortunately, it is compulsory. Half the jobs that exist today won’t even exist 10 years from now. That’s how fast the world is progressing. We still ask our kids to learn when Shah Jahan was born. It is a joke that at the end of these 10 years, we are expected to choose a career in science, commerce, or arts when school education hardly helped us explore ourselves. Some of the world’s greatest artists, athletes, inventors and scientists are from India. Unfortunately, they are all engineers and tragically none of them know about their talents. The biggest reason for this tragedy isn’t the society, parenting, coaching or anything else. The school is the reason and they too are all eventually victims of the same century-old schooling system. In the legendary words of Kevin Spacey from Usual Suspects, “The greatest trick the devil ever pulled was convincing the world he didn’t exist.” and our school is our society’s biggest devil.

That the petitioner No. 2 is the founder President of an Institution, namely, “ Institute for Re-writing Indian (and World) History “. The aim and objective of that institution, which is a registered society having register no. F-1128 (T) as the public trust under the provision of Bombay Public Trust Act. Inter alia, is to re-discover the Indian history. The monumental places of historical importance in their real and true perspective having of the heritage of India. The true copy of memorandum of association of the aforesaid society / public trust having fundamental objectives along with Income tax exemption certificate under section 80-G (5) of I.T. Act, 1961 for period 1/4/2003 to 31/3/2006 are filed herewith as marked as Annexure No.1 and 2 to the writ petition. 5. That the founder-President of Petitioner’s Institution namely Shri P. N. Oak is a National born Citizen of India. He resides permanently at the address given in case title. The petitioner is a renowned author of 13 renowned books including the books, titled as, “ The Taj Mahal is a Temple Place”. This petition is related to Taj Mahal, Fatehpur- Sikiri, Red-fort at Agra, Etamaudaula, Jama- Masjid at Agra and other so called other monuments. All his books are the result of his long-standing research and unique rediscovery in the respective fields. The titles of his books speak well about the contents of the subject. His Critical analysis, dispassionate, scientific approach and reappraisal of facts and figures by using recognised tools used in the field gave him distinction through out the world. The true copy of the title page of book namely “The Taj Mahal is a Temple Palace” . written by Sri P. N. Oak, the author/ petitioner No. 2 is filed as Annexure –3 to this writ petition.

The traditional reluctance in this country to confront the real nature of racism is once again illustrated by the manner in which the majority of American whites interpreted what the Kerner Commission had to say about white racism. It seems that they have taken the Kerner Report as a call merely to examine their individual attitudes. The examination of individual attitudes is, of course, an indispensable requirement if the influence of racism is to be neutralized, but it is neither the only nor the basic requirement. The Kerner Report took great pains to make a distinction between racist attitudes and racist behavior. In doing so, it was trying to point out that the fundamental problem lies in the racist behavior of American institutions toward Negroes, and that the behavior of these institutions is influenced more by overt racist actions of people than by their private attitudes. If so, then the basic requirement is for white Americans, while not ignoring the necessity for a revision of their private beliefs, to concentrate on actions that can lead to the ultimate democratization of American institutions. By focusing upon private attitudes alone, white Americans may come to rely on token individual gestures as a way of absolving themselves personally of racism, while ignoring the work that needs to be done within public institutions to eradicate social and economic problems and redistribute wealth and opportunity. I mean by this that there are many whites sitting around in drawing rooms and board rooms discussing their consciences and even donating a few dollars to honor the memory of Dr. King. But they are not prepared to fight politically for the kind of liberal Congress the country needs to eradicate some of the evils of racism, or for the massive programs needed for the social and economic reconstruction of the black and white poor, or for a revision of the tax structure whereby the real burden will be lifted from the shoulders of those who don't have it and placed on the shoulders of those who can afford it. Our time offers enough evidence to show that racism and intolerance are not unique American phenomena. The relationship between the upper and lower classes in India is in some ways more brutal than the operation of racism in America. And in Nigeria black tribes have recently been killing other black tribes in behalf of social and political privilege. But it is the nature of the society which determines whether such conflicts will last, whether racism and intolerance will remain as proper issues to be socially and politically organized. If the society is a just society, if it is one which places a premium on social justice and human rights, then racism and intolerance cannot survive —will, at least, be reduced to a minimum. While working with the NAACP some years ago to integrate the University of Texas, I was assailed with a battery of arguments as to why Negroes should not be let in. They would be raping white girls as soon as they came in; they were dirty and did not wash; they were dumb and could not learn; they were uncouth and ate with their fingers. These attitudes were not destroyed because the NAACP psychoanalyzed white students or held seminars to teach them about black people. They were destroyed because Thurgood Marshall got the Supreme Court to rule against and destroy the institution of segregated education. At that point, the private views of white students became irrelevant. So while there can be no argument that progress depends both on the revision of private attitudes and a change in institutions, the onus must be placed on institutional change. If the institutions of this society are altered to work for black people, to respond to their needs and legitimate aspirations, then it will ultimately be a matter of supreme indifference to them whether white people like them, or what white people whisper about them in the privacy of their drawing rooms.

Indian Express (Indian Express) - Clip This Article at Location 721 | Added on Sunday, 30 November 2014 20:28:42 Fifth column: Hope and audacity Ministers, high officials, clerks and peons now report for duty on time and are no longer to be seen taking long lunch breaks to soak in winter sunshine in Delhi’s parks. Reform is needed not just in economic matters but in every area of governance. Does the Prime Minister know how hard it is to get a passport? Tavleen Singh | 807 words At the end of six months of the Modi sarkar are we seeing signs that it is confusing efficiency with reform? I ask the question because so far there is no sign of real reform in any area of governance. And, because some of Narendra Modi’s most ardent supporters are now beginning to get worried. Last week I met a man who dedicated a whole year to helping Modi become Prime Minister and he seemed despondent. When I asked how he thought the government was doing, he said he would answer in the words of the management guru Peter Drucker, “There is nothing quite so useless as doing with great efficiency something that should not be done at all.” We can certainly not fault this government on efficiency. Ministers, high officials, clerks and peons now report for duty on time and are no longer to be seen taking long lunch breaks to soak in winter sunshine in Delhi’s parks. The Prime Minister’s Office hums with more noise and activity than we have seen in a decade but, despite this, there are no signs of the policy changes that are vital if we are to see real reform. The Planning Commission has been abolished but there are many, many other leftovers from socialist times that must go. Do we need a Ministry of Information & Broadcasting in an age when the Internet has made propaganda futile? Do we need a meddlesome University Grants Commission? Do we need the government to continue wasting our money on a hopeless airline and badly run hotels? We do not. What we do need is for the government to make policies that will convince investors that India is a safe bet once more. We do not need a new government that simply implements more efficiently bad policies that it inherited from the last government. It was because of those policies that investors fled and the economy stopped growing. Unless this changes through better policies, the jobs that the Prime Minister promises young people at election rallies will not come. So far signals are so mixed that investors continue to shy away. The Finance Minister promises to end tax terrorism but in the next breath orders tax inspectors to go forth in search of black money. Vodafone has been given temporary relief by the courts but the retroactive tax remains valid. And, although we hear that the government has grandiose plans to improve the decrepit transport systems, power stations and ports it inherited, it continues to refuse to pay those who have to build them. The infrastructure industry is owed more than Rs 1.5 lakh continued... crore in government dues and this has crippled major companies. No amount of efficiency in announcing new projects will make a difference unless old dues are cleared. Reform is needed not just in economic matters but in every area of governance. Does the Prime Minister know how hard it is to get a passport? Does he know that a police check is required even if you just want to get a few pages added to your passport? Does he know how hard it is to do routine things like registering property? Does he know that no amount of efficiency will improve healthcare services that are broken? No amount of efficiency will improve educational services that have long been in terminal decline because of bad policies and interfering officials. At the same time, the licence raj that strangles private investment in schools and colleges remains in place. Modi’s popularity with ordinary people has increased since he became Prime Minister, as we saw from his rallies in Kashmir last week, but it will not la

This fragmentation of public authority went even further in Pakistan than in India. In Pakistan, state power never permeated society as deep and far as in India, as the dissemination of highly technological forms of violence within society and the inability of state authorities to enforce a national system of taxation exemplify—two developments that have no parallel in neighbouring India. The evolutions of Karachi’s society over the past four decades bear testimony to this. The proliferation and ever-increasing power of these non-state sovereigns, claiming for themselves the right to discipline and punish but also to protect, tax and represent local populations, has turned the city into a ‘zone of unsettled sovereignties and loyalties’,122 where the access to arms has become the privileged if not the sole venue towards power and wealth.

Cultural Awareness Capabilities for Social MDM As we have worked with customers around the world, we have encountered numerous situations that have taught us to broaden our understanding, handling, and use of information about people—once again reminding us of the diversity and richness of human nature. Following are some of the things we have learned: • Birth dates can be surprisingly tricky. In some cultures, people have a religious birth date that is different from the birth date tracked by the government. This could be due to differences between religious calendars and secular calendars, or it could be that the religious birth date is selected for other reasons. Depending on how you ask people for their birth date, you may get either their actual or religious birth date. In other situations, the government may assign a birth date. For example, in some rural areas of India, children are assigned a legal birth date based on their first day in elementary school. So you need to exercise caution in using birth date as an attribute in matching individuals, and you also have to consider how information is gathered. • Names can also be challenging. In some cultures, people have official and religious names. So again, it is important to understand how and why an individual might give one or the other and perhaps provide the capability to support both. • In some countries, there are multiple government identification systems for taxation, social services, military service, and other purposes. In some of these schemes, an individual may, for instance, have multiple tax ID numbers: one that represents the individual and another that might represent individuals in their role as head of household or head of clan. • Different languages and cultures represent family relationships in different ways. In some languages, specific terms and honorifics reflect relationships that don’t have equivalents in other languages. Therefore, as you look at understanding relationships and householding, you have to accommodate these nuances. • Address information is country-specific and, in some cases, also region-specific within a country. Not all countries have postal codes. Many countries allow an address to be descriptive, such as “3rd house behind the church.” We have found this in parts Europe as well as other parts of the world.

Central Excise 2.3 Central Excise Duty is levied by the Central Government under the Central Excise Act, 1944. The levy is on all goods manufactured and produced in India, which are specified in the schedule to the Central Excise Tariff Act subject to certain exemptions. The effective rate may vary from product to product though most goods are subject to excise duty at 10% (without education cess). As manufacturer, credit is allowed on excise duty and countervailing duty paid on inputs and capital goods and the service tax paid on input service. The credit is allowed as a setoff against the excise duty payable on the output. Cross credit utilisation between credit of service tax and excise duty has been enabled w.e.f.10.9.2004. Service tax 2.4 Service tax is levied by the Central Government under Chapter V and Chapter VA of Finance Act, 1994. Service tax is levied on specified services, referred to as taxable services, when rendered by a service provider. Service tax is presently taxed at 10% (without education cess).Ordinarily, service tax is payable by the service provider, except in specified cases. As service provider, credit is allowed on excise duty and countervailing duty paid on inputs and capital goods and the service tax paid on input service. The credit is allowed as a set-off against the service tax payable on taxable services. VAT & CST 2.5 Value Added Tax (VAT) is levied by the State Governments on transfer of property in goods from one person to another, when such transfer is for cash, deferred payment or other valuable consideration. VAT is also payable on certain transactions that are deemed to be sale such as transfer of right to use goods, hire purchase and sale by instalments, works contract and sale of food and drink as a part of rendering of any service. 2.6 Local VAT is payable when goods are sold within the State and Central Sales Tax (CST) is payable when sale occasions the movement of goods 4

Any amount received on death is exempt from income tax in India. Normally,

Double Taxation Avoidance Agreements (DTAA): Mr. Kaushik, a US citizen, living in UK having an income from investments in India should be taxed only once on his Indian income. If his income is taxed in all three jurisdictions, he may not be able to get anything after tax and would cause him undue hardship. Double taxation means taxing the same income more than once.

An NRI may have a CA in India helping him for Indian taxes, CPA in his country of residence helping him for his local taxes and a bank relationship manager or agent/advisor friend for investments in India. All

India is a country with comparatively higher inflation. If an investor invests in an asset, which gives a positive return but is not able to meet or beat inflation, there is no real return to the investor and if he has to also pay tax on the positive return, it would result in a double whammy – return not enough and pay tax on the not enough return.

India is also a tax haven country for NRIs, PIOs and foreign investors. Let us see how this is true.

In India, dividend income is exempt from income tax for investors, provided the dividend distribution tax (DDT) is paid by the company or the mutual fund schemes declaring the dividend. While

The dividend received is exempt from income tax in India provided the Dividend Distribution Tax (DDT) has been paid by the company distributing dividend. If the DDT has not been paid, the dividend income would be taxable.

Mr. Keyur from Australia sold an equity mutual fund subject to STT after 18 months of purchase for a gain of Rs. 1,000,000. As STT is paid and the holding period is more than 12 months, the gain would be a LTCG and would be exempt from income tax in India.

Mr. Kalpit from Oman invested Rs. 3,000,000 in a residential property in India in June 2012 and sold the property for Rs. 4,000,000 in July 2014. As the period of holding is less than 36 months, the gain of Rs. 1,000,000 would be a STCG and added to his other income and taxed as per the slab rates as regular income.

Interest on NRE and FCNR deposits are exempt from income tax in India. However, while explanation 2 of section 10 (15)(iv) mentions that “interest” includes hedging transaction charges on account of currency fluctuation, taxation of gain due to entering into forward contract may not be straight forward.

The tax-free bonds may get listed and traded on the stock exchange. However, the secondary market of debt is not liquid or effective in India. Thus, the investor may not be able to realize its true value.

Interest on the PPF account is exempt from income tax in India. Not only does an investment in a PPF account give the highest tax free income to residents, it is also allowed as a deduction u/s. 80C of the income tax act, thereby reducing the taxable income. Thus,

Loans NRIs can give loans to resident Indians on a repatriable or non-repatriable basis. NRIs can also receive loans from residents. Loan from NRIs in foreign currency or on a repatriable basis A resident Indian can borrow up to US dollars 250,000 from NRI close relatives on a repatriation basis i.e. on repayment, the NRI can credit the funds in an NRE account and take this money back without any restrictions. The NRI should be a close relative of the borrower. Please check ‘Who is your relative’ for details. The amount of loan should be received by an inward remittance or by debit to the NRE/FCNR account. The loan should be a minimum of 1 year and without any interest. The funds cannot be used for agricultural/plantation/real estate business or for relending. Income: As the loan should be interest-free, no income can be generated. Taxability: As there is no income, there is no tax. Loan from NRIs in Indian rupees or on a non-repatriable basis A resident, not being a company incorporated in India, may borrow in rupees from an NRI on a non- repatriation basis. The period of loan should be 3 years or less and the rate of interest should not exceed 2% over the prevailing bank rate at the time of the loan. The loan has to be utilized for meeting the borrower’s personal requirement or for his business purposes. The funds cannot be used for agricultural/plantation/real estate business or for relending or for investment in shares, securities or immovable property. For example, Ms. Isumati has given an unsecured loan to her father’s firm earning 15% interest. If she goes to the UK for further studies and becomes an NRI, while she may continue with the loan, RBI rules would apply. The funds cannot be used for real estate business and if the bank rate is 10%, she cannot be paid more than 12% interest on her loan. Her father would also need to deduct TDS @ 30.9% on the interest. Income: Income from loans given to residents is interest. Taxability: The interest income on loans given is taxable for NRIs. Loans to NRIs NRIs are allowed to borrow from a bank/authorized

The oldest among Kashmiris often claim that their is nothing new about their condition, that they they have been slaves of foreign rulers since the sixteenth century, when the Moghul emperor Akbar annexed Kashmir and appointed a local governer to rule the state. In the chaos of post-Moghul India, the old empire rapidly disintegrating, Afghani and Sikh invaders plundered Kashmir at will. The peasantry was taxed and taxed into utter wretchedness; the cultural and intellectual life, which under indigenous rulers had produced some of the greatest poetry, music, and philosophy in the subcontinent, dried up. Barbaric rules were imposed in the early nineteenth century, a Sikh who killed a native of Kashmir was fined nothing more than two rupees. Victor Jacquemont, a botanist and friend of Stendahl's who came to the valley in 1831, thought that "nowhere else in India were the masses as poor and denuded as they were in Kashmir.

Yet, like more recent mega-corporations, the EIC proved at once hugely powerful and oddly vulnerable to economic uncertainty. Only seven years after the granting of the Diwani, when the Company’s share price had doubled overnight after it acquired the wealth of the treasury of Bengal, the East India bubble burst after plunder and famine in Bengal led to massive shortfalls in expected land revenues. The EIC was left with debts of £1.5 million and a bill of £1 million* in unpaid tax owed to the Crown. When knowledge of this became public, thirty banks collapsed like dominoes across Europe, bringing trade to a standstill.

Aurangzeb was also a religious bigot, a man who could not tolerate people of other faiths. He destroyed Hindu temples and reimposed the hated jiziya tax on non-Muslims. When this tax was first announced, the Hindus of Delhi gathered in large numbers in front of the Red Fort to protest against it. The emperor set his elephants against them and many were trampled to death.

A trading corporation had become both colonial proprietor and corporate state, legally free, for the first time, to do all the things that governments do: control the law, administer justice, assess taxes, mint coins, provide protection, impose punishments, make peace and wage war.

India is neither doing anything within India to expose and prosecute the corrupt and the offenders nor taking legal steps outside India to recover the wealth of India stashed away abroad.

The Delhi Sultans and the Mughals may have arrived from abroad, and their progenitors might initially have harked back to distant cities in the Ferghana Valley as their idea of ‘home’, but they settled in India and retained no extraterritorial allegiance. They married women from India and diluted their foreign blood to the point that in a few generations no trace remained of their foreign ethnicity. Akbar’s son Jehangir was half-Rajput; Jehangir’s son Shah Jehan also came from an Indian bride; Aurangzeb was only one-eighth non-Indian. Of course, the Mughal emperors were all deeply aware of their connections to Ferghana; they would ask emissaries from there about the conditions of their ancestors’ Chingisid tombs and donate money for their upkeep. The past was part of the Mughal identity, but their conceptions of themselves in the present and for the future became more rooted and embedded in India. The British, in contrast, maintained racial exclusivity, practised discrimination against Indians and sneered at miscegenation. Yes, the Mughal emperors taxed the citizens of India, they claimed tributes from subordinate princes, they plundered the treasuries of those they defeated in battle—all like the British—but they spent or saved what they had earned in India, instead of ‘repatriating’ it to Samarkand or Bukhara as the British did by sending their Indian revenues to London. They ploughed the resources of India into the development of India, establishing and patronizing its industries and handicrafts; they brought painters, sculptors and architects from foreign lands, but they absorbed them at their courts and encouraged them to adorn the artistic and cultural heritage of their new land. The British did little, very little, of such things. They basked in the Indian sun and yearned for their cold and fog-ridden homeland; they sent the money they had taken off the perspiring brow of the Indian worker to England; and whatever little they did for India, they ensured India paid for it in excess. And at the end of it all, they went home to enjoy their retirements in damp little cottages with Indian names, their alien rest cushioned by generous pensions provided by Indian taxpayers.

Instead, anxious to maintain their revenues at a time of low production and high military expenditure, the Company, in one of the greatest failures of corporate responsibility in history, rigorously enforced tax collection and in some cases even increased revenue assessments by 10 per cent.

For Jaipur, Jodhpur, Udaipur and the other Rajput courts, this was also an age of empowerment and resurgence as they resumed their independence and, free from the tax burdens inherent in bowing to Mughal overlordship, began using their spare revenues to add opulent

Platoons of sepoys were marched out into the countryside to enforce payment, where they erected gibbets in prominent places to hang those who resisted the tax collection.19 Even starving families were expected to pay up; there were no remissions authorised on humanitarian grounds. Richard Becher in Murshidabad was appalled by what he saw and wrote to Calcutta for instructions: ‘Am I really quietly to stand by and see them commit the vilest acts of oppression, without being able to render the aggrieved redress?

but Akbar had been engaged in a power struggle with traditional Islamic leaders and certain Sufi communities since the 1570s.141 Akbar clashed with these groups on a range of issues, including tax laws, his numerous marriages (far beyond the Islamic upper limit of four), and the proper character of an Islamic empire in India. The members of this opposition tended to espouse a more conservative interpretation of Islam than Akbar. Perhaps more important, they desired to maintain direct influence in the expanding Mughal Empire. Akbar soon began to curtail the authority of such Islamic leaders by claiming an enhanced definition of the bounds of his own sovereignty and even persecuted certain individuals directly.142 By the mid-1580s, the Mughal king had formulated a decisive answer to this imperial problem: Akbar removed powers previously exercised by the ulama, notably their prerogative to define the boundaries of Islamic knowledge, and invested them in himself as emperor.143 Alluding to this ongoing power struggle, Abū al-Faz̤l declares that Akbar will no longer allow the supposedly learned of Islam undeserved authority. Instead, the king offers himself as a superior replacement.

Why are so many young men staying on in universities earning multiple degrees—and that, too, in liberal arts?’ whispered Chandini to Gangasagar. ‘So that they continue to remain as students on the campus,’ explained Gangasagar. ‘But why do you need them there?’ asked Chandini. ‘So that they can contest the elections,’ explained Gangasagar. ‘Which elections?’ ‘Students’ Union elections.’ ‘Why does the ABNS need to involve itself in Students’ Union activities across the thirty-odd universities of Uttar Pradesh?’ ‘Because if our young men control the Students’ Unions of the universities, we—the ABNS—control the youth, a key constituency in the state’s power balance.’ ‘And then what will they do?’ ‘A liberal arts education is general enough for the IAS—the Indian Administrative Service or the IRS— the Indian Revenue Service.’ ‘So they’ll enter the bureaucracy?’ asked Chandini. ‘Some of them will become trade union leaders, others income-tax commissioners, secretaries within the Reserve Bank of India—there are so many jobs that need us to have our own people!

Late 2012 Andy’s Correspondence   Young, India has a way of changing a worldview. It was everything I had expected, still unexpected. Although I had seen poverty, I had not witnessed impoverishment such as I saw in India. Much like you, I found it trying, to keep a jaunty demeanor in the company of our hosts, when the majority of India’s denizens suffer from malnourishment and poverty. It was difficult to refrain from extending a helping hand – but, I knew I could not reach out to one, without becoming vulnerable to all.               I shed many a tear pondering over this universal question, asked by many, “Why is this happening, and how will it end for these destitute souls?” These are unanswerable questions to which only the Creator can reply.               During times of uncertainty, I was grateful to have your teacher, Dubois, to provide me with his admirable insights. His work (on Zentology) had helped many find equilibrium and solace within their inner and outer worlds. After he received his doctorate, I read several of his books, which helped me during my tumultuous years in New Zealand.               What transpired after our separation I have mentioned earlier – Tony, my ex-boyfriend, was not an easy person. His concept of love bordered on maniacal possession, not an easing into life’s rhythmic synergies, nor allowing rather than controlling. Maneuvering within his taxing negativity left me drained. Dubois’ books and meditation techniques helped me distance myself from this challenging situation, and after some time, I was left with little choice but to depart for Canada.

the British economic historian Angus Maddison has demonstrated, India’s share of the world economy was 23 per cent, as large as all of Europe put together. (It had been 27 per cent in 1700, when the Mughal Emperor Aurangzeb’s treasury raked in £100 million in tax revenues alone.) By the time the British departed India, it had dropped to just over 3 per cent.

You see all this is Indian money, we don’t pay taxes here,’ he remarked. ‘So whatever is being done with the money is only benefiting some Nagas, it is not taking money away from them. It is only Indian money that is being used.

Under Narendra Modi, the rich have become richer, and inequalities have increased. A 2018 Oxfam report revealed that 10 percent of the richest Indians garnered 77.4 percent of the nation’s wealth (against 73 percent the year before)119 and that 58 percent of it was in the hands of India’s “1 percent” (while the world average is 50 percent). The earnings made by this handful of people in 2017 were equal to India’s budget for that year. Also in 2017, the fortune of India’s 100 richest tycoons leaped by 26 percent. The richest of them all, Mukesh Ambani, increased his wealth by 67 percent, according to Forbes India120—a publication, moreover, that belongs to this billionaire. Ambani’s fortune again rose by 24 percent in 2018.121 Going slightly beyond the 100 richest, the IIFL Wealth Hurun India Rich List identified the 953 richest Indian families and gave figures showing that their fortune represented more than 26 percent of the country’s GDP122—which meant that if a tax rate of 4 percent was applied to the nation’s 953 richest families, it would give the government the equivalent of 1 percent of India’s GDP.123 According to Crédit Suisse, the number of dollar millionaires in India jumped from 34,000 in 2000 to 759,000 in 2019,124 which means that the country has one of “the world’s fastest-growing population of millionaires.”125 The average wealth level of these millionaires increased by 74 percent over this period.

While the rich became richer, the taxation policy of the government, instead of correcting this trend, actively strengthened it. One of the first decisions of the first Modi government was to abolish the wealth tax that had been introduced in 1957. While the fiscal resources generated by this tax were never significant, the decision was more than a symbolic one.126 The wealth tax was replaced with an income tax increase of 2 percent for households that earned more than Rs 10 million (133,333 USD) annually.127 Few people pay income tax in India anyway: only 14.6 million people (2 percent of the population) did in 2019. As a result, the income-tax-to-GDP ratio remained below 11 percent. Not only has the Modi government not tried to introduce any reforms to change this, but it has instead increased indirect taxes (such as excise taxes), which are the most unfair as they affect everyone, irrespective of income. Taxes on alcohol and petroleum products are a case in point. As some state governments have also imposed their own taxes, this strategy means that India has one of the highest taxation rates on fuel in the world. The share of indirect taxes in the state’s fiscal resources has increased under the Modi government to reach 50 percent of the total taxes—compared to 39 percent under UPA I and 44 percent under UPA II.128 Modi’s taxation policy, a supply-side economics approach, is in keeping with the managerial rhetoric of promoting the spirit of enterprise that the prime minister, who readily presents himself as an efficiency-conscious “apolitical CEO,” relishes. One of the neoliberal measures the Modi government enacted in the name of economic rationality, right from his very first budget in 2015, was to lower the corporate tax.129 For existing companies it was reduced from 30 to 22 percent, and for manufacturing firms incorporated after October 1, 2019 that started operations before March 31, 2023, it was reduced from 25 to 15 percent—the biggest reduction in twenty-eight years. In addition to these tax reductions, the government withdrew the enhanced surcharge on long- and short-term capital gains for foreign portfolio investors as well as domestic portfolio investors.130

As the 2019 elections were approaching, the Modi government felt the need to appear less pro-rich and more pro-poor again. But the union budget passed in February was somewhat a missed opportunity so far as the peasants were concerned. No loan waivers were announced in their favor, simply an enhanced interest subvention on loans and an annual income support of Rs 6,000 (80 USD)—6 percent of a small farmer’s yearly income—to all farmers’ households owning two hectares or fewer.131 In fact, the union budget was once again more geared to pleasing the middle class. The income tax exemption limit jumped from Rs 200,000 (2,667 USD) to 250,000 (3,333 USD), and the income tax rate up to Rs 5 lakh (6,667 USD) was reduced from 10 to 5 percent. The income tax on an income of Rs 10 lakh (13,333 USD) dropped from Rs 110,210 (1,470 USD) to Rs 75,000 (1,000 USD).132 The poor were doubly affected by the fiscal policy of the Modi government in 2014–2019: not only did the tax cuts in favor of the middle class, the abolition of the wealth tax, and, more importantly, the reduction of the corporate tax rates have to be offset by increased indirect taxes, but the stagnation of fiscal resources did not allow the government of India to spend more on public education and public health—all the more so as Narendra Modi wanted to reduce the fiscal deficit. First of all, tax collection diminished. The exchequer “lost” Rs 1.45 lakh crore (1.933 billion USD) in the reduction of the corporate tax, for instance. That was the main reason why gross direct tax collection dipped 4.92 percent133 in 2019–2020, a fiscal year during which gross tax collections were less than those in 2018–2019. Tax collections had never declined on a year-on-year basis since 1961–1962.134 Second, government expenditures diminished. The central government reduced its spending on education from 0.63 percent of GDP in 2013–2014 to 0.47 percent in 2017–2018. The trend was marginally better on the public health front, where the Center’s spending declined from 0.37 percent of GDP in 2013–2014 to 0.34 percent in 2015–2016, before rising again to reach 0.38 percent in 2016–2017.

This strategy, together with the partial dismantling of measures to fight poverty, partly explains the continuous rise of inequalities in India. However, some of the rich have become richer for other reasons as well, including the close relationship between the Modi government and industrialists. FROM CRONY CAPITALISM TO COLLUSIVE CAPITALISM While the Modi government is not responsible for the enrichment of Indian tycoons, which began in most cases prior to the BJP victory in 2014, it continued to help them. In Gujarat, the Modi government had apparently granted unwarranted advantages to industrialists, including the sale of land below market prices, dispensations from environmental standards, unjustified tax rebates, interest-free loans, and so on.136 After forming the central government, the NDA government allegedly shielded Indian industrialists from banks to which these men owed billions. Such collusion has contributed to destabilizing a banking system undermined by dubious debts—particularly those held by these big investors, who do not pay back their loans.137 Even if the problem began under the previous government, it has persisted in part owing to collusion between businessmen and the ruling class. The government’s cronies continued to receive huge loans from public-sector banks (whose heads have trouble disobeying the government),138 which they proved unable to pay back. In May 2018, nonperforming assets (NPAs) vested in public banks—in other words, loans for which the borrower had not made payment on either the interest or the principal in at least ninety days—accounted for 12.65 billion dollars, or about 14 percent of their total loans (compared to 12.5 percent in March the previous year139 and only 3 percent in March 2012).140 A small number of borrowers were largely responsible for this evolution, among whom were prominent large industrialists.141 In 2015, in a fifty-seven-page document, Credit Suisse gave a detailed analysis of the astounding level of debt of ten Indian corporations that continued to borrow even though all the red flags had gone up.142 In 2018, 84 percent of the dubious loans were owed by major corporations, and twelve of them accounted for 25 percent of the outstanding NPAs.143 Among them is the group owned by Gautam Adani, a supporter of Prime Minister Narendra Modi since 2002.144 In 2015, the group increased its debt level by 16 percent to acquire a seaport and two power plants. Consequently, its debt soared to 840 billion rupees (11.2 billion USD), compared to only 331 billion rupees (4.41 billion dollars) in 2011.145

In a dog-eat-dog world of Politics, it is not too farfetched to imagine that every Central leader of BJP wanted the collapse of the political career of Modi, whom they suspected and very correctly so as a potential threat to their own political ambitions. After all, at the end of the day there are many senior leaders in Congress and BJP who want to die after becoming either the Prime Minister or the President of India, even if for just one day.

Prannoy Roy was appointing sons, daughters, in-laws, nephews and nieces of top officials and politicians in NDTV as journalists.  This show of nepotism in journalism changed the style of journalism as access to corridors of power became easy for media houses. Not only bureaucrats, several kith and kin and siblings of top police and military officials too became journalists in NDTV, as and when the organization needed largesse from the system.  This unholy recruitment of journalists completely changed the character of India’s journalism. In those days the joke in Delhi was that all siblings of the powerful, not-so-good-in-academics can become journalists through NDTV. Still, when you look at the family details of many journalists in NDTV, you can see their links with IAS, IPS, IRS, Military top brass uncles, fathers, and in- laws.

By this time NDTV had become part and parcel of Lutyens’ cozy club cutting across party lines. Congress and BJP heavyweights were at the disposal of NDTV. Left parties too were silent and complicit on NDTV’s illegalities in wielding power as Prannoy Roy’s wife Radhika Roy was the full blood real sister of Communist Party of India – Marxist (CPI-M) Politburo member Brinda Karat (wife of Prakash Karat, General Secretary of CPI-M). Till 2009, the CPI-M General Secretary Prakash Karat and wife Brinda Karat lived with Prannoy Roy and Radhika Roy. NDTV was basking in the aura of the political and intellectual who’s who in the luxurious Lutyens’ Delhi. By this time, it had many nephews, nieces, daughters, sons, daughters in law, sons in law, et al, of powers that be/people at key places on its rolls masquerading as journalists or in other positions within NDTV to curry favours with the obliged and gratified uncles and fathers in law.

With their support, NDTV and Prannoy Roy hounded Narendra Modi for 12 years[7]. This was a classic example of Supari Journalism in India. But an important question that remains a mystery till date is where was Narendra Modi’s friend and key ally of NDTV–Arun Jaitley all this while and what was his equation with NDTV?

When Pranab Mukherjee became President of India, he went to the extent of allowing NDTV to conduct its 25th anniversary in Rashtrapati Bhawan! This was the first instance in Independent India, when Rashtrapati Bhawan was thrown open for a private function, which was blessed by Who’s Who in Government, Politics, Intelligentsia and Business tycoons in 2013.

This was an elaborate ruse to get S K Srivastava, off the investigation of NDTV for its tax evasion. After some time, P Chidambaram, much against his wishes, became the Home Minister and got Delhi Police under him. Srivastava says that Chidambaram promptly got false and mischievous criminal cases lodged against him, to get him removed from service. Not only that, Chidambaram got him arrested on the premises of the Court [Patiala House Court, Delhi, Jan 8, 2010]. A few illustrative but not exhaustive instances of such monumental persecution of a member of the Indian Revenue Service S K Srivastava are being listed below: Srivastava had found that his junior Income Tax official Shumana Sen IRS was conniving with NDTV in fudging their accounts[10]. In this, she was also supported by her batch mate and partner-in-crime, Ashima Neb, claims Srivastava. Shumana Sen was Assessing Officer of NDTV’s Income Tax circle and her husband Abhisar Sharma was a news presenter of NDTV being a serious violation of Govt. rules and law governing the conduct of employees of Govt. [MHA OM No.F.3/12/(S)/64-Ests.(B), dated 12.10.1965) and Rule 4 of the CCS (Conduct) Rules, 1965] and despite there being mandatory requirement of serving IRS officers to declare pecuniary interest like employment of spouse, etc., by a Company or Firm to the Govt. and failure of which is to be visited with severest punishment including dismissal from service; Shumana Sen never declared to Govt. that her husband was a staffer of the company which she was assessing to all the Direct Taxes, a serious breach which invites dismissal from service without any benefits. The vicious and criminal vilification of an IRS officer for nothing but doing his duty and protecting the public revenue and public interest which were being prejudiced by NDTV, Minister P Chidambaram and hired mercenaries Shumana Sen and Ashima Neb is something that would send shivers down the spine of any right thinking person. Srivastava was forced to face the allegations and court cases as Minister P Chidambaram was desperate to protect NDTV and hush up its crime, criminality and criminal acts – acts that caused defrauding of public revenue of India running into thousands of crores of rupees.

During the period, June 2006 – October 2008 the media company floated many shell companies across global jurisdictions such as Sweden, Netherlands, UK, Mauritius and Dubai (over 30) etc. to bring into India via illegal hawala route a sum of over USD 150 million dollars. This is clear case of violation of Income Tax Dept and ED provisions. After the execution of sham transactions many of these companies were closed. In some foreign companies, NDTV’s prominent faces Barkha Dutt, Vikram Chandra and Sonia Singh were also shareholders or directors. All these companies were just paper companies at some hotel address or some attorney addresses.

Tax-Evasion of Rs.200 crores by fraudulently claiming that signals beamed by NDTV in Delhi to Hong Kong (STAR TV) by NDTV was export and claim tax benefits on that when no goods was taken away from India to a place outside India and nothing crossed Custom barrier of India; by bribing corrupt IRS officer Shumana Sen, in a quid pro quo, and who was given an “all-expenses paid free yearly vacation abroad with her entire family” which cost about Rs.1 crore for each of such several trips abroad.

General Ayub Khan (Pakistan) with all his assumed and cultivated arrogance learnt an expensive lesson during the 1965 war with India. Despite his boast that he would have “breakfast at Lahore”, “lunch at Jalandhar” and “dinner at Delhi” he had not factored in the fact that India would fight and fight so ferociously as to make his Pakistani troops wail “Bade Imam mare gaye (The Big guys have been killed)”.

New Delhi Television Ltd. (NDTV), a public limited company registered in September, 1988 at Delhi, India was promoted by Prannoy Roy. He and his wife Radhika Roy were involved in controversies from the very beginning- the CBI FIR [FIR RC.2(A)/98ACUII dated 09.01.1998 u/s 120B of IPC, 1960 r.w. section 13(2) and 13(1)d) of the P.C. Act, 1988, Exhibit 1] naming Prannoy Roy and NDTV accused of cheating the public exchequer.

Hiring a novice reporter of Times of India, who was barely drawing a monthly salary of about Rs.7,000 (Rajdeep Sardesai) for about Rs.75,000 a month as Political Editor of NDTV because he got married to the only child of incumbent Information and Broadcasting Secretary (Bhaskar Ghose, IAS West Bengal) or an incompetent small time stringer (Abhisar Sharma) for his IRS spouse Shumana Sen for a whopping salary of Rs.70,000 per month are but a few instances of sinecure appointments or, to be more accurate, an alternate way of paying bribes.

Setting up IRS officer Shumana Sen through the conduit of its employee Abhisar Sharma to steal the “secret and confidential” records from the Income Tax Department having a bearing upon economic sovereignty of India and then pass the stolen records to NDTV for facilitating its money-laundering.

Agricultural taxes amounted at a minimum to half the gross produce and often more, leaving the cultivator less food than he needed to support himself and his family; British estimates conceded that taxation was two or three times higher than it had ever been under non-British rule, and unarguably higher than in any other country in the world.

The extensive and detailed calculations of William Digby, the British writer, pointed to the diminishing prosperity of the Indian people and the systematic expropriation of India’s wealth by Britain—including the telling fact that the salary of the Secretary of State for India in 1901, paid for by Indian taxes, was equivalent to the average annual income of 90,000 Indians.

William Digby calculated that ‘the ryots in the Districts outside the permanent settlement get only one half as much to eat in the year as their grandfathers did, and only one-third as much as their great-grandfathers did. Yet, in spite of such facts, the land tax is exacted with the greatest stringency and must be paid to the Government in coin before the crops are garnered!

Up to now, gold bullion had represented 75 per cent of the EIC’s imports to Bengal, and was the source for much of the ‘prodigious ancient riches of the province’. But now the Company no longer had to ship anything from Britain in order to pay for the textiles, spices and saltpetre it wished to buy and export: Indian tax revenues were now being used to provide the finance for all such purchases. India would henceforth be treated as if it were a vast plantation to be milked and exploited, with all its profits shipped overseas to London

In 1770, the British East India Company – the world’s first multinational corporation – increased the taxes it forcibly collected on crops, and ten million people, a third of Bengal, starved to death.

Several illegalities of tax evasion were done by NDTV during the Congress regime. UPA’s Finance Ministers P Chidambaram and Pranab Mukherjee were competing to dole out gifts to NDTV. When Pranab Mukherjee became the President of India, he went to the extent of allowing NDTV to conduct its 25th anniversary in Rashtrapati Bhavan! This was the first instance in Independent India, when the Rashtrapati Bhavan was thrown open for a private function, which was blessed by Who’s Who in Government, Politics, Intelligentsia and Business tycoons in 2013. Income

Let me take you back in time a little,” says Anumita Roychowdhury, an elegant woman in a beige and pale blue wrap. She’s the director of the Center for Science and Environment, a group that’s played a leading role in the years of battles over air quality. In the 1990s, she tells me, Delhi’s air was so bad “you couldn’t go out in the city without your eyes watering.” India had no regulations on vehicles or fuel, so despite advances elsewhere in the world, engines here hadn’t improved for 40 years, and fuel quality was abysmal. It was the activist Supreme Court that changed that. Its judges started issuing orders, and from 1998 to about 2003, a series of important new rules came into force. Polluting industries were pushed out of the city, auto-rickshaws and buses were converted to CNG, and emission limits for vehicles were introduced, then tightened. “These were pretty big steps,” Roychowdhury says, and they brought results. “If you plot the graph of particulate matter in Delhi, you will see after 2002 the levels actually coming down.” The public noticed. “I still remember the 2004 Assembly elections in Delhi, where the political parties were actually fighting with each other to take credit for the cleaner air. It had become an electoral issue.” So how did things go so wrong? The burst of activity petered out, and rapid growth in car ownership erased the improvements that had been won. “If you look at the pollution levels again from 2008 and ’09 onwards, you now see a steady increase,” Roychowdhury says. “We could not keep the momentum going.” Indeed, particulate levels jumped 75 percent in just a few years.14 Even the action that was taken, she believes, “was too little. We had to do a lot more, more aggressively.” Part of the reason government stopped pushing, Roychowdhury believes, is that the moves needed next would have had to address Delhiites’ growing fondness for cars, so would surely have prompted public anger. “There is a hidden subsidy for all of us who use cars today,” she says. “We barely pay anything in terms of parking charges, we barely pay anything in terms of road taxes. It is so easy to buy a car because of easy loans. So there is absolutely no disincentive.” About 80 percent of transportation spending is focused on drivers, even though they’re only about 15 percent of Delhiites. “The entire infrastructure of the city is getting redesigned to facilitate car movement, but not people’s movement.

It was no use. She said it as many times, with as many details, statistics, figures, proofs, as she could force out of her weary mind into their evasive hearing. It was no use. They neither refuted nor agreed; they merely looked as if her arguments were beside the point. There was a sound of hidden emphasis in their answers, as if they were giving her an explanation, but in a code to which she had no key. “There’s trouble in California,” said Wesley Mouch sullenly. “Their state legislature’s been acting pretty huffy. There’s talk of seceding from the Union.” “Oregon is overrun by gangs of deserters,” said Clem Weatherby cautiously. “They murdered two tax collectors within the last three months.” “The importance of industry to a civilization has been grossly overemphasized,” said Dr. Ferris dreamily. “What is now known as the People’s State of India has existed for centuries without any industrial development whatever.” “People could do with fewer material gadgets and a sterner discipline of privations,” said Eugene Lawson eagerly. “It would be good for them.” “Oh hell, are you going to let that dame talk you into letting the richest country on earth slip through your fingers?” said Cuffy Meigs, leaping to his feet. “It’s a fine time to give up a whole continent—and in exchange for what? For a dinky little state that’s milked dry, anyway! I say ditch Minnesota, but hold onto your transcontinental dragnet. With trouble and the riots everywhere, you won’t be able to keep people in line unless you have transportation—troop transportation—unless you hold your soldiers within a few days’ journey of any point on the continent. This is no time to retrench. Don’t get yellow, listening to all that talk. You’ve got the country in your pocket. Just keep it there.

The extortion nightly have been partly excused if the taxes were being returned to the cultivators in the form of public goods or services, but the taxes were sent off to the British government in London.

But the reality was starker and more unpleasant: large-scale economic exploitation was not just deliberate; it was only possibly under an umbrella of effective political and economic control. (...) kingdom after kingdom was annexed by the simple expedient of offering its ruler a choice between annihilation in war and a comfortable life in subjugation. When war was waged, the costs were paid by taxes and tributes exacted from Indians. Indians paid, in other words, for the privilege of being conquered by the British.

Ratan Tata speaks of JRD’s business ethics. One of India’s best known tax consultants, Dinesh Vyas, says that JRD never entered into a debate between ‘tax avoidance’ which was permissible and ‘tax evasion’ which was illegal; his sole motto was ‘tax compliance’. On one occasion a senior executive of a Tata company tried to save on taxes. Before putting up that case, the chairman of the company took him to JRD. Dinesh Vyas explained to JRD: ‘But Sir, it is not illegal.’ Softly JRD said: ‘Not illegal, yes. But is it right?’ Vyas says not in his decades of professional work had anyone ever asked him that question. Vyas later wrote in an article, ‘JRD would have been the most ardent supporter of the view expressed by Lord Denning: “The avoidance of tax may be lawful, but it is not yet a virtue.

Best government can do for E-Commerce, start-up, & digital revolution in India 2 focus on: high speed Internet, low cost data, low cost of capital with easier access, IP protection, vs. defining E-Commerce, burdening startup with tax collection, not allowing SME to be online with GST.

Nowadays anybody is aware of what it's miles. But let’s have a recap, shall we? On 1st July 2017 Government of India released what we name now, “GST” beneathneath the governance of Prime Minister Narendra Modi. But, the idea of GST turned into first proposed all through the authorities of Atal Bihari Vajpayee. So, after nearly a long time it returned. We pay GST whilst we purchase meals items, clothes, electronics, transportation, etc. We do now no longer pay it at once to the authorities but, it really works in a chain. Before the product reaches the customer, there are producers, wholesalers, and retailers. They upload this tax and the closing individual on this chain, to finish it's miles us! Get your Gst Registration done today at

Pooling can be accomplished either by the government exercising some form of mandate such as income tax and compulsory health-related contributions, or by allowing people to voluntarily purchase some form of insurance.

There is also a long tradition in developing countries of governments using price and tax policies to benefit the urban sector at the cost of the rural. Many countries in Africa in the 1970s created what they called agricultural marketing boards. This was a cruel joke, since many of the boards were intended to prevent the marketing of produce so the board could buy it at the lowest prices, thereby stabilizing prices for city dwellers. Other countries, like India and China, banned exports of farm products to keep prices where urban consumers wanted them. A by-product of these policies was to make agriculture unprofitable, encouraging people to leave their farms.

How to Apply for the Best divorce Advocate in Chennai? When a marriage does not last for an extended period of time, couples frequently search online for information on how to apply for divorce Lawyers in Chennai. Many couples must endure the difficult process of separation that eventually results in the best divorce advocate in Chennai at some point in their lives. It is a serious truth that provides us with a second chance to start over. The lack of legal complexities and the emotional turmoil each spouse experiences while deciding to end their partnership amicably are the reasons why the proceedings are simple. This article will teach you how to file for divorce, especially if you're Indian. Frequently Mentioned Events that Ultimately Lead to Divorce As we have closely analyzed, it has been conceivable over time to list a few typical legal justifications that are adequate for one spouse to petition the family court for a divorce from the other. These factors include: The petitioner has learned that their partner is having an extra - marital or sexual relationship with someone else. when the petitioner's spouse has avoided them for a period longer than two years beginning on the date the divorce petition was filed. when the petitioner's partner repeatedly mistreats him or her, either physically or mentally, in a way that seems so grave that it could be death. Another cause for filing a divorce petition could be inability or rejection of sexual activity. Divorce proceedings may start when one partner or better half has had a terminal illness for a long time. If there is evidence of mental illness, the other party may choose to divorce lawfully. List of Paperwork Required for Divorce Filing If a married couple in India wants to end their marriage by mutual consent, they must present the following paperwork to the court: the partners' biographical information and family information. The previous two years' income tax or IT returns statement for the spouses. Types of Divorce in Chennai In Chennai, a divorce typically occurs using one of the two processes listed below: Divorce by mutual consent Contested divorce In the first scenario, the spouse's consent to divorcing one another. These divorces' maintenance obligations can be any amount of money or nothing at all. Any parent whose obligation is shared is solely responsible for child custody. Again, this depends on the cooperation and respect between the two people. The husband and wife must execute a "no-fault divorce," as permitted by Section B of the Hindu Marriage Law, under this consensual arrangement. The first motion is done on the date set by the family court, and the relevant couple's statements are electronically recorded and preserved for later use. Both parties agree to maintain the jury as a witness throughout the remaining processes. The judge gives the couple six months to reevaluate their next motion or second motion. Many couples change their minds during this time, thus the court is using this as an opportunity to prevent a negative event like divorce. Even after these six months, if there is still no change of heart, the court moves forward with its decision and issues a divorce decree, officially recognising the previously married couple's permanent separation.

Tax evasion, dubious accounting and shady friendships are almost seen as natural behaviour for an Indian businessman. We don’t see them as crimes.

Moreover, the reasons for proposing such tax cuts are often verbally transformed from those of the advocates— namely, changing economic behavior in ways that generate more output, income and resulting higher tax revenues— to a very different theory attributed to the advocates by the opponents, namely “the trickle-down theory.” No such theory has been found in even the most voluminous and learned histories of economic theories, including J.A. Schumpeter’s monumental 1,260-page History of Economic Analysis. Yet this non-existent theory[*] has become the object of denunciations from the pages of the New York Times and the Washington Post to the political arena. It has been attacked by Professor Paul Krugman of Princeton and Professor Peter Corning of Stanford, among others, and similar attacks have been repeated as far away as India.[2] It is a classic example of arguing against a caricature instead of confronting the argument actually made. While

Norway is working on a combination of taxes, subsidies, infrastructure, and other incentives in an effort to end sales of gasoline cars in the country by 2025. In October 2016, Germany’s federal council voted for a nonbinding resolution to end all sales of gasoline cars with internal combustion engines by 2030. In May 2017, India’s power minister announced a plan to have only electric cars—and “not a single petrol or diesel car”—sold in the country from 2030 on. Both the UK and France have said they will end sales of diesel and gasoline cars by 2040. And even China has said it will set a date that will signal the end of all gasoline car sales in the country (although it hasn’t said what that date will be). All these scenarios could have a drastic effect on the uptake of electric vehicles, which would in turn have a dramatic impact on the consumption of oil.

The widest definition of “wealthy” is in India, where a 1% wealth tax kicks in for anybody whose net worth is more than 3 million rupees, which comes to about $45,000. (In India, that still means a small percentage of the population.)

Legal obfuscation and amnesty schemes The UPA government is trying to use every trick of the trade to provide escape routes for black money looters. Take, for example, the complex strategy being adopted to change the colour of money from black to white, with a unique ‘Fair and Lovely’ amnesty recipe. The press reported in 2011 that the Central Board of Direct Taxes (CBDT) was “seriously considering” recommending to the government a scheme on the lines of the Voluntary Disclosure of Income Scheme (VDIS) announced in 1996 to bring back black money stashed in tax havens abroad for productive use in India. It is reported that the source of the money will not have to be disclosed, but criminal action will be taken if the money (or the assets) pertain to proceeds of crime. How the two halves of the sentence can be harmonised defies logic. In a democracy, every citizen is entitled to know the character and integrity of every other citizen, lest one day a crook manipulates a constituency of voters and colleagues in his party and occupies the office of prime minister. Concealing vast amounts of money and depriving a poverty-stricken nation of the revenue it badly needs is a criminal offence by itself. How would we find out whether or not one such criminal is already in office, instead of being in Tihar Jail?

Manmohan Singh’s lost opportunity The anti-corruption agitations of 2011 provided a wonderful opportunity for the prime minister and his government to start the process of purging the system of corruption and retrieving black money illegally stashed away in foreign banks. The government had two options to get our money back. The first, to behave like a responsible, honourable and strong nation and demonstrate political will to fight corruption using the ample machinery available through international and bilateral legal instruments, the Tax Information Exchange Treaties (TIEAs), Double Taxation Avoidance Agreements (DTAAs) and the Organisation for Economic Co-operation and Development (OECD) automatic exchange route. The Swiss have volunteered cooperation; and India can follow the example of the US and UK, and get India’s stolen money back to the country. Or, the government can take the other option and behave like a banana republic and a failed state, plunder capital from their own country through a UPA-sponsored version of imperialism, perpetuate poverty and backwardness by denying the people of this country their rightful development dividend while repeatedly rewarding and incentivizing the looters with amnesty schemes. Mr Singh’s government has continuously concealed information on black money by fooling the people of our country, shielding the corrupt and guilty who have illegal bank accounts in foreign banks, and by creating obstacles for any progress in the matter instead of taking proactive measures to obtain the information from the foreign governments concerned. Prime Minister Manmohan Singh could have chosen the former option and gone down in history as a great patriot and leader of our country, a pioneer against corruption. But sadly, he has lost the opportunity and chosen such, that history will remember him as having presided over the greatest frauds practised on this poor and gullible nation.

India’s share of the world economy was 23 per cent, as large as all of Europe put together. (It had been 27 per cent in 1700, when the Mughal Emperor Aurangzeb’s treasury raked in £100 million in tax revenues alone.) By the time the British departed India, it had dropped to just over 3 per cent. The reason was simple: India was governed for the benefit of Britain. Britain’s rise for 200 years was financed by its depredations in India.

But less than a century and a half later, this Mughal empire was in a state of collapse after the spectacular sacking of Delhi by the Persian Nadir Shah in 1739 and the loot of all its treasures. The Mughal capital was pillaged and burned over eight long weeks; gold, silver, jewels and finery, worth over 500 million rupees, were seized, along with the entire contents of the imperial treasury and the emperor’s fabled Peacock Throne; elephants and horses were commandeered; and 50,000 corpses littered the streets. It is said that when Nadir Shah and his forces returned home, they had stolen so much from India that all taxes were eliminated in Persia for the next three years.

. . . and the day came when he lost his temper at breakfast for the first time. That was the day on which taxes were raised and tax thresholds simultaneously lowered; my father flung down the Times of India with a violent gesture and glared around him with the red eyes I knew he only wore in his tempers. 'It's like going to the bathroom!' he exploded, cryptically; egg toast tea shuddered in the blast of his wrath. 'You raise your shirt and lower your trousers! Wife, this government is going to the bathroom all over us!

This growing global mobility of capital, then, is coupled with the fact that outstanding individuals of all types, whether they are from a small village in India with only dirt roads or from a privileged background in London, are being sought out by companies and organizations and asked to relocate—often to the United States, which is still the world's strongest economic engine.

The manipulation of currency, throughout a feature of the colonial enterprise, reached its worst during the Great Depression of 1929–30, when Indian farmers (like those in the North American prairies) grew their grain but discovered no one could afford to buy it. Agricultural prices collapsed, but British tax demands did not; and cruelly, the British decided to restrict India’s money supply, fearing that the devaluation of Indian currency would cause losses to the British from a corresponding decline in the sterling value of their assets in India. So Britain insisted that the Indian rupee stay fixed at 1 shilling sixpence, and obliged the Indian government to take notes and coins out of circulation to keep the exchange rate high. The total amount of cash in circulation in the Indian economy fell from some 5 billion rupees in 1929 to 4 billion in 1930 and as low as 3 billion in 1938. Indians starved but their currency stayed high, and the value of British assets in India was protected.