Anecdotes about the first Income Tax searches in the T-20 IPL cricket tournament and a letter by former Finance Minister P Chidambaram seeking information about alleged illegal accounts by Indians in Switzerland find place in a new book on black money.
The recently launched book "It's Raining Black! Chronicles of Black Money, Tax Havens and Policy Response" -- talks about policy measures framed by the government to tackle the menace of illegal funds in the country and abroad.
It also contains anecdotal incidents of action undertaken by various financial law enforcement agencies like the Central Board of Direct Taxes (CBDT), Enforcement Directorate (ED) and Department of Revenue Intelligence as part of their mandate.
The tome has been penned by journalist and founder of web portal '<g data-gr-id="23">taxindiaonline</g>', Shailendra Kumar, who by the virtue of his experience on the field, has put on record 'on-ground' development of these agencies. One of the simple ways to generate black funds or illegal money, described in the book, is the general modus operandi of running illegal liquor trade across the borders of various Indian states.
The book tracks the topic of black money through its recent past and addresses the future challenges. Clubbed into two parts and eight chapters, the book attempts to decode some tough lexicon used in the context of black money and topics related to tax evasion, investigation and collection of intelligence-related data. The analysis has been divided into two broad aspects, the domestic perspective and the international arena.