Blackmoney: I-T Dept ready to consider Ramdev’s suggestions

Last Updated: Tuesday, May 31, 2011 - 19:10

New Delhi: Amid the threat of yoga guru Baba
Ramdev to go on hunger strike over the issue of black money,
the Income Tax department on Tuesday said it is ready to consider
his suggestions for unearthing unaccounted money.

"Ramdevji`s suggestions were constructive and
constructive ideas should be considered by the government,"
said Central Board of Direct Taxes (CBDT) Chairman Sudhir
Chandra, who had earlier briefed Ramdev on the steps being
taken by the government to unearth black money.

When asked about his meeting with the yoga guru, Chandra
said, "I think Ramdevji was satisfied. I informed him about
the steps government has taken during the past two years to
bring back black money."

The government has recently announced a series of steps
including setting up of a criminal investigation wing in the
income tax department to track and prosecute economic
offenders.

Ramdev has threatened to go on hunger strike on the
issue of black money and corruption from June 4.

On setting up of the Directorate of Criminal
Investigation (DCI), the outgoing CBDT chief said, "DCI will also help in
getting banking information and cross borders deals with
countries and tax havens with which India is revising tax
treaties."

India has already identified 22 jurisdictions, which are
tax havens, for signing tax treaties, he said, adding, "the
revised Double Taxation Avoidance Agreement (DTAA) with
Switzerland is likely to be implemented from next year."

The government has already announced a five-pronged
strategy to tackle the menace of illicit funds, including
joining global crusade against black money and creating
appropriate legislative framework.

PTI



First Published: Tuesday, May 31, 2011 - 19:10

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