Parrikar advises CAs to ask clients to come clean on black money by Sept 30
BY M Post Bureau2 July 2016 10:08 PM GMT
M Post Bureau2 July 2016 10:08 PM GMT
Defence Minister Manohar Parrikar on Friday asked chartered accountants (CAs) to advise their clients to use the government’s black money window to come clean on tax evasion by September 30. Calling Prime Minister Narendra Modi as the “hope of the country”, Parrikar asked the accountants to put in their strength behind his effort to clean up and energise the economy.
“I would advise you to tell your clients to come out clean,” he said at a seminar organised by the Institute of Chartered Accountants of India. The Income Declaration Scheme, 2016, which opened on June 1, allows domestic black money holders to declare ill-gotten wealth and come clean by paying a tax and penalty totalling 45 per cent. Parrikar said the schemes were designed by bureaucrats and there could be loopholes.
“There can be serious worry in the minds of taxpayers who want to come out clean... The complication can also make a person dishonest,” he said and asked the chartered accountants (CAs) to give a holistic viewpoint and not necessarily from their clients’ perspective.
Parrikar said they should give their feedback on the black money initiative, GST Bill and ways to reduce non-performing assets in the banking sector that are coming in the way of the country's progress. He said PM Modi was guiding the country’s agenda in the right direction. “He has a vision. You don’t get people with this kind of vision very easily. I would urge you to support the government and the PM’s vision by participating and even pointing out the errors,” he said.
The Defence Minister said the only reason why he continues to stay in Delhi and work even though he did not like living here was because he was inspired by Modi. Recalling the time when many skipped their meal once a week responding to a call by former PM Lal Bahadur Shastri to deal with food shortage, Parrikar said the only Prime Minister after him to have such an effect was Modi.
Next Story