One Year of Demonitisation - Page 9
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  1. #81
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    Quote Originally Posted by Heritage India View Post
    Even Hitler won elections, An electoral result is not a measurement of any governments competence
    hi

    i agreed....
    asato maa sadh gamayaa, tamaso maa jyotir
    gamayaa, mrityor maa amritham gamayaaa..
    om shanti, om shanti, om shanti...upanishad
  2. #82
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    Quote Originally Posted by tbs View Post
    hi

    let's wait gujarat election......i know that himachal election is different from gujarat...
    what makes you think so? anty-incumbancy? or any other reason?
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  4. #83
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    Quote Originally Posted by athimber View Post
    what makes you think so? anty-incumbancy? or any other reason?
    hi

    its prestige issue as well as bjp's performance....
    asato maa sadh gamayaa, tamaso maa jyotir
    gamayaa, mrityor maa amritham gamayaaa..
    om shanti, om shanti, om shanti...upanishad
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  6. #84
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    It is not only the prestige. BJP is facing all sorts of troubles there. BJP is in command of the state for almost 22 years in continuation execpt for a few months in between. Things are slightly changed now. They don't have a charismataic face as CM candidate the one like Modi, anty incumbancy, Patidar issue. Still poll predictors recommend a BJP sweep again due to Modi-Amit Shah factor only. Failure of Congress party to offer a tough fight and a no contest from AAP could be some soothing factors for them.
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  8. #85
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    At last RG has matured and congress is putting up a fight.

    This time caste is playing an important role in addition to GST and demonetisation hurting the common man.

    Let us see what happens
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  10. #86
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    EXCLUSIVE | Demonetisation: How crores of undisclosed cash moved into lakhs of bank accounts
    MoneyControl • Nov 15, 2017 02:54 PM IST


    Moneycontrol News

    Nearly 18 lakh companies and individuals are under the government’s scanner for depositing unaccounted cash soon after Prime Minister Narendra Modi announced “demonetisation”, banning Rs 500 and Rs 1000 notes from November 8, 2016.

    These individuals and companies had disclosed income in their tax returns far lower than the cash deposits during 50 days ending December 30, 2016 that the government had given to people to deposit the outlawed notes.


    Hundreds of bullion traders, property dealers, civil contractors, shell companies, petrol pump owners and cooperative societies moved thousands of crores into multiple bank accounts during November 8, 2016 to December 30, 2016 to obscure the trail of slush funds.

    Moneycontrol has exclusive details from the I-T Department’s status report on “Operation Clean Money” collated in May 2017 based on cash deposits made in banks during the demonetisation drive.

    “The cash deposit data was analysed to identify persons whose cash transactions did not appear in line with their tax paying profile. This analysis resulted in identification of about 17.92 lakh persons for verification process,” a source, who did not wish to be identified, said.

    Also Read: Black money rogues — 15 villains caught red-handed trying to launder Rs 900 crore

    Under Operation Clean Money, which the government launched on January 31, 2017, tax payers, whose cash deposits were found to be significantly greater than their disclosed incomes, were given an option to explain the inconsistency in an online portal.

    Till May 12, 2017, of the 17.92 lakh people identified for verification, more than 9.72 lakh taxpayers have given their responses through the online portal. This involves 13.33 lakh accounts involving cash deposits of around Rs 2.89 lakh crore.

    More than half of these deposits (57 percent) were claimed to have been from currency notes collected through cash sales. A fifth (20 percent) were disclosed as cash out of earlier or savings, while 9.6 percent of these deposits were shown to be “other cash receipt”.

    Another 4.2 percent were disclosed as cash out of receipts exempt from tax, and 4.1 percent of such deposits were shown as cash withdrawn out of bank accounts. Loan repayments in cash accounted for 2.9 percent of these deposits, with “others” accounting for 1.7 percent.

    According to the report, the data mined during the 50-day demonetisation drive showed “large scale conversion of unaccounted cash”, using back dating of sales, splitting of sale bills to avoid PAN reporting norms, providing entries through bogus sales, layering transactions to hide the identity of the ultimate beneficiary, acceptance of advances in cash against future sales and other methods.

    In many instances, jewellers were found to have deleted CCTV footage to destroy evidence of customers visiting stores on the night of November 8, 2016.
    नाभुक्तं क्षीयते कर्म कल्प कोटि शतैरपि।
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  12. #87
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    At last RG has matured and congress is putting up a fight ?

    does this give any hope of improvement?
    After the greatest Leader Kamraj was defeated DMK and ADMK have ruled has it helped TN ?

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  14. #88
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    15 cash ban villains: A doctor with Rs 11 cr in banned notes, jewellers fudging sales

    Nov 15, 2017 06:17 PM IST | Source: Moneycontrol.com
    15 cash ban villains: A doctor with Rs 11 cr in banned notes, jewellers fudging sales
    Here are a 15 instances, collated from the I-T department’s report, of how people deposited large previously undisclosed cash amounts to dodge taxmen

    Moneycontrol has exclusive details from the I-T department’s status report on “Operation Clean Money” collated in May 2017 based on cash deposits made in banks during the demonetisation drive.

    Here are 15 instances, collated from the I-T department’s report, of how people deposited large previously undisclosed cash amounts to dodge taxmen.

    #Case 1: Hyderabad-based Jeweller
    A Hyderabad-based jeweller had deposited cash of Rs 97 crore in demonetised currency notes. During investigations, they claimed to have received cash from various customers on November 8, 2016 from 9:00 pm onwards towards advance for purchase of bullion.

    The I-T department, however, found several irregularities in this claim.
    It was claimed cash advances of Rs 90 crore were received on November 8, 9.00 pm onward from 5,200 customers. Declaration letters were, however, furnished for only 65 persons.

    It was also seen that cash receipts and sale invoices for these advances were for amounts of less than Rs 2 lakhs and did not have PAN details.

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    The security guard on night duty told the I-T department no one had visited the premises from 8:00 pm onward on November 08, 2016.
    Even though the premises was under CCTV surveillance, no footage for November 8 was available, which the director claimed had been overwritten.

    According to the I-T department findings, two companies had facilitated conversion of unaccounted cash of beneficiaries into bullion through dubious claims of receipts of cash advance from 5,200 persons without any evidence.

    The case has also been referred to the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) for appropriate action.

    #Case 2: Bhopal-based Jewellers
    The I-T department had specific intelligence about a sudden spurt in three jewellers’ sales shortly after November 8, 2016.

    One entity with annual turnover of approximately Rs 8 crore had booked sales of more than Rs. 17 crore in first week of November, out of which Rs 10.7 crore was booked as advance against future sale.

    Instances were detected where bills of large amount were split in multiple bills of less than 2 lakhs each. The names of customers on these bills were found to be partial and incomplete.

    There were inconsistencies in the bills. For example, bill number 1001 was issued before bill number 1000, raising suspicions of deliberate backdating. The jewellers admitted undisclosed income of more than Rs 15 crore.
    Case 3 Patiala-based jeweller
    A bank reported a sudden spurt in cash deposits—of Rs 11 crore—in the bank account of a Patiala-based jeweller on November 11, 2016. According to I-T officials, it appeared that the books had been manipulated to engage in cash sales in demonetised currency notes after November 8, 2016.

    A forensic analysis of the digital data resulted in recovery of certain deleted or modified files, which revealed the jeweller had manipulated sales invoices by back dating the bills for the period between October 1, 2016 and November 8, 2016.

    The bills issued during this period were found to have been generated in the system after November 8, 2016.

    #Case 4: Rajkot Based Petrol Pumps
    An analysis of cash deposits data during November 9-December 30, 2016 showed there were more than 110 petrol pumps in the city that had deposited cash of Rs 190 crore during this period.

    On average, it was found that one-fifth of these cash deposits were above the sales made in the corresponding period.

    This data was compared with the average monthly sales of 2015. The bank statements were also analysed to check to inconsistencies in periodicity and magnitude of cash receipts and payments.

    #Case 5: Delhi-based bitumen trader
    A Delhi-based bitumen and jewellery trader deposited cash of Rs. 150 crore in multiple bank accounts after November 8, 2016.

    All entries of local cash sales that were disclosed during the cash deposits in bank between November 8 to December 30, 2016 were found to be of exactly the same amount—Rs. 1,99,500.

    According to evidence that the I-T department has collated, these deposits were sought to be explained as cash sales by making backdated entries in the accounting software.

    The trader also accepted cash in demonetised notes and facilitated purchase of gold after November 8, 2016. Two major parties, to which gold was sold, were shown to be in Jaipur. A spot verification by I-T department sleuths, however, found no such buyer existed in the given addresses.

    According to the trader’s books of accounts, the total sale to these parties was around Rs. 135 crore. When confronted with evidence from Jaipur, one of the firm’s partner admitted that he had accepted that cash in demonetised notes from various parties, which he had deposited in his accounts and had in turn supplied gold bars to them.

    #Case 6: Bangalore-based contractors
    Two major companies engaged in government civil contract projects in Karnataka were alleged to have inflated expenses and investment of unaccounted income in property purchase of immovable properties.

    Discreet enquiries also revealed that they were helping in conversion of unaccounted cash in banned notes held by other persons after November 8, 2016. Bank transactions data showed that funds were transferred to related entities such as vendors and sub-contractors through the banking system and subsequently received back in cash.

    In the offices of one of the companies, bank passbooks of 34 persons were found. The company’s managing director admitted that these accounts were used to generate cash and the account holders merely lent their names.

    He also accepted that several bank accounts were opened in the names of subcontractors, many of whom were relatives or friends of the companies’ directors. These bank accounts were used to withdraw cash for non-business expenses. The company also paid nearly Rs.1.3 crore in banned notes to their labour on November 9, 2016 and booked it as labour expenses. Subsequent investigations show undisclosed income of Rs 167 crore.

    #Case 7: Hyderabad Based Doctor
    A Hyderabad-based doctor was found to have deposited more than Rs 11 crore in banned notes after November 8, 2016 in three bank accounts.
    During questioning, the individual could not provide any document to substantiate the source of the deposits, which was later admitted as undisclosed income.

    #Case 8: Government employee in Bhubaneswar
    A government employee’s home and offices were searched on the basis of information on unexplained cash deposits in multiple bank accounts in own name, as well as, in the name of his family members.

    Investigations also revealed that his wife, a homemaker with no ascertainable sources of income, had purchased land in Bhubaneswar by making cash payment of Rs. 53 lakhs, the sources of which could not be explained. A total cash of Rs 2.28 crores has been seized.

    #Case 9: Cooperative bank at Alwar
    A survey was conducted in the case based on a reference by the police on seizure of cash of more than Rs 1.3 crore from a vehicle carrying three directors of a cooperative bank in Alwar.

    On investigations, it was found that the bank was used for conversion of personal unaccounted cash of Rs 2 crore by the chairman and his family.
    New currency notes were brought from the chests of State Bank of India (SBI) and State Bank of Bikaner and Jaipur (SBBJ) in the name of the cooperative bank and replaced illegally.

    It was also found that the directors had cheated the bank of crores of rupees by fraudulently obtaining loans in the names of around 90 persons, whose identities are doubtful.

    #Case 10: Cooperative bank at Delhi
    A cooperative bank in Delhi used demonetisation as an opportunity to earn illegal commissions for handling unexplained cash.

    The chairman and his associates, the I-T department has found, systematically opened benami and fraudulent accounts to launder cash for beneficiaries.

    More than 1200 new accounts were opened and 600 dormant accounts were made after November 8, 2016 in the name of third persons or on the basis of fake identity and know your customer (KYC) documents.

    A total of more than Rs.120 crore was deposited in the bank by December 26, most of which were routed back to the beneficiaries.

    The I-T department has carried out preliminary verification in more than 2500 accounts with cash deposits above Rs 1 lakh and available balance above Rs 1 lakh in this bank. Eleven Benami accounts have been identified for action under Benami Transactions (Prohibition) Act, 1988 (as amended by Benami Transactions (Prohibition) Amendment Act, 2016.

    #Case 11: Unexplained cash deposits in name of employees
    An Amritsar-based company has been found to have deposited Rs 2.5 crore in about 700 accounts of his employees. The AGM Finance of the company admitted under oath to have deposited Rs 2.1 crore of old currency in 780 bank accounts of the workers of the factory without their consent or knowledge.

    This deposited cash was later withdrawn from the bank using the withdrawal slips already in custody of the company’s human resources department. The actual bank account holders were not aware that their accounts were being used for deposit of the cash of the company.
    Last edited by GANESH65; 16-11-2017 at 06:44 AM.
    नाभुक्तं क्षीयते कर्म कल्प कोटि शतैरपि।
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  16. #89
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    Quote Originally Posted by athimber View Post
    Elections are the only mechanism to judge performance of any Government. If there is an incompetent one, it is the opportunity for the general public to show them the door. Unfortunately many a times, people get caught there is not much to choose between the candidates/parties. That is the main problem in India. May be one or a few leaders in a party are competent and they are leading a team of less competent people thus affecting their effeciency.
    True words. However in our Country the results of elections do not show the real will of the majority. If we analyse properly we will see this Country is ruled always by the people who got elected by numerically less number of votes than others in total.
    One major lacuna inherent in the Constitution is "system of first past the post - the one who gets the maximum votes wins". So when votes are split and winning candidate may not have the majority supporting him. For example the current dispensation got 31% of the votes cast and still rules. Same was the condition earlier also when parties who got less than 25% ruled for years.

    More importantly, influence of money power.Election Commission has to cancel elections as happened in Tamil Nadu byelections, when they found use of money openly by Parties to entice voters.

    Another deterrent for honest and efficient Candidates to stand for elections is seat reservation on the basis of caste. Dr. B R Ambedkar wanted the seat reservation for SC/STs for ten years only. But it has become inherent part of Constitution.

    Major Parties go by the winnability of Candidate on Caste and family background. Now the seats are allotted to the wives, sons and daughters in case they fall vacant. Thus a new dynastic rule has been established in place of Maharaja's rule abolished by Sardar Patel.

    Above all, look at the benefits the elected members get when they win elections. Heavy pay packet, free accommodation, transport, airtickets, retirement benefits. So many other perks etc.

    What we get in return. The current session of Karnataka Legislature in Belagavi gives a sample. Speakers of both houses have to postpone the sessions due to lack of quorum !

    I am not writing about Manifestos of the Political outfits when they go for elections. All assure the same benefits to the innocent voters for the past 60 years ! Now freebies for every one from their tax money is added attraction.

    When we look into the working of Government now, we will understand all the basic services like Water, Electricity, Roads, petrol and oil that were assured are used as money making enterprises.

    In spite of all these we should feel proud that India is the only Country in this part of Globe, which enjoys the rule of democratically elected Government continuously.

    Brahmanyan
    Bangalore.
    Last edited by Brahmanyan; 16-11-2017 at 11:21 AM.
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