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People indulging in Money Laundering Activities and Converting their Black money into White will not be Spared, says Shaktikanta Das

Black money hoarders converting their unaccounted money into white using the poor people

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Indian Currency, Pixabay

New Delhi, December 2, 2016: The Finance Ministry on Friday warned the black money hoarders that those involved in the conversion of black money to White will not be spared.

The government on November 8 had announced the demonetization of Rs. 500 and Rs. 1000 currency notes to root out corruption and terrorism from the country. But, black money hoarders were converting their unaccounted money into white by using the poor people.

Prime Minister Narendra Modi warned people that they should not convert their ill-gotten by using the poor people as it would put them into trouble.

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Modi said in his radio talk “Mann ki Baat”, “Some people think they can convert their black money into white. And they are looking at unlawful ways. It’s unfortunate they have chosen to use poor people for this.”

“I want to say that is us up to them to abide by the law or break it, it is up to them if they want to correct themselves. The law will deal with them. But please don’t play with lives of poor,” Prime Minister Modi added.

The government urged the citizens of India to help out the government in rooting out black money.

“Those indulging in or colluding with money laundering or converting black money into white will not be spared,” Economic Affairs Secretary Shaktikanta Das tweeted.

“Trails being pursued by agencies. Coordinated action underway. Result already visible. Will be more visible in coming days,” he added.

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According to the Taxation Laws (Second Amendment) 2016, those caught illegally converting money will have to cough up 60 percent tax plus penalties, which will come to 85 percent. The Lok Sabha on Tuesday passed this Bill that seeks to tax money deposited in bank accounts post demonetisation.

Finance Minister Arun Jaitley said that the bill was brought after it came to know that people were exchanging the demonetised Rs. 500 and Rs. 1000 currency notes illegally, mentioned PTI.

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The government even requested people to provide information of such illegal activities to the IT department so that strict action could be taken against them and help in curbing out black money from the country.

The Ministry said in a statement, “Income Tax and penalty would be subjected if it is found that the amount deposited in the account was not of the account holder but of somebody else. Also, the person can be prosecuted for abetment under the Income Tax Act.”

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“Black money is a crime against humanity. We urge every conscientious citizen to help join the government in eradicating it,” it added.

The tax department has enclosed that cash deposits of more than 2.5 lakh in bank accounts would have to provide PAN card.

prepared by Zoya Arshi from NewsGram Twitter: zoyaarshi96

 

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PM Modi Receives A Letter From Pamela Anderson To Promote Vegan Food

Anderson in her letter praised India's cuisine that made it the 'easiest place on earth' to be vegan.

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Anderson is a vegan, an advocate for animal rights, and an active member of the animal protection organization People for the Ethical Treatment of Animals (PETA).

Baywatch icon and former Bigg Boss guest star Pamela Anderson on Friday wrote a letter on behalf of People for the Ethical Treatment of Animals (PETA) to Prime Minister Narendra Modi, urging him to serve only vegan food at all government meetings and functions.

In this letter, she urges Modi to lead India’s fight against climate change by serving only delicious vegan (wholly plant-derived) food at all government meetings and functions. The animal rights group and the actor explained that raising animals for meat, eggs, and dairy causes nearly one-fifth of all human-induced greenhouse-gas emissions.

“With your country’s innovation and agricultural history, I’m sure that India-produced soy and other versatile foods can easily replace these damaging foods,” she writes. PETA Director urged Modi to adopt pro-vegan steps taken by other countries such as New Zealand, China and Germany.

“I appeal to you to show that India can equal or best them,” the 52-year-old actor added.

Modi  getting down from Air India Airplane.
Narendra Modi getting down from Air India Airplane.

Expressing concern over climate change she wrote, “My heart goes out to everyone affected by the severe air pollution plaguing Delhi. I worry about the residents as well as the animals who can’t wear face masks or stay indoors.”

She said that according to latest reports, 36 million Indians could face the threat of annual coastal flooding by 2050. The World Bank has predicted that at least 21 cities in India are approaching zero groundwater levels for next year and that 40 per cent of Indians may not have water to drink by 2030.

ALSO READ: Foodies Must Try These Dishes from the Streets of Kolkata

Anderson in her letter praised India’s cuisine that made it the ‘easiest place on earth’ to be vegan. “India is the easiest place to be vegan… I still remember the beautiful colour of saffron rice and the alluring aroma of veggie biryani. India’s foods are so fantastic and varied that it’s the easiest place on earth to be vegan”, she added.

Last month, she had written to Canadian Prime Minister Justin Trudeau asking him to serve nutritious vegan meals in correctional facilities. (IANS)