BJP favours law to tackle problem of blackmoney

Pitching for concrete action to tackle the problem of black money stashed abroad, the BJP favoured a law to bring the culprits to book and said any offer for amnesty for tax evaders needs to be debated.

Last Updated: Feb 23, 2011, 00:45 AM IST

New Delhi: Pitching for concrete action to tackle the problem of black money stashed abroad, the BJP on Tuesday favoured a law to bring the culprits to book and said
any offer for amnesty for tax evaders needs to be debated.

"I feel it is possible for us to take action against
people who are known as tax evaders in the public domain.
Certain names have been with the government for the last three
years, if the Ministry of Finance had the documents then why
was no action taken," BJP spokesperson Nirmala Sitharaman said
during an interaction at the Indian Women`s Press Corps here.

Accusing the government of being in a state of
"slumber", she said, "Political will is needed to take action
against fraudulent things.
"The UPA is not interested in talking about it. We
will in the current session talk about money laundering. We
will make sure a lot of cases are filed."

"There needs to be a law to tackle this problem,"
Sitharaman said.

Asserting that amnesty being offered to tax evaders
needs to be debated, she said, "This (black money) is not tax
evasion. It can also be money made through drug deals".
Lawyer Prashant Bhushan said that an important part of
the problem was the double taxation benefit given to companies
registered in Mauritius.

"Black money is the economy which has been generated
by a lot of resources of this country," he said.

Around 90 per cent of this money has gone to
corporates and around 10 per cent to public servants, he
alleged.

He favoured India ratifying the UN convention against
corruption to tackle the issue.

PTI