ravishingravi Posted February 12, 2011 Posted February 12, 2011 http://www.anewstracer.com/lgt-bank-tehelka-reveals-16-names-of-lgt-bank-account-holders.php 1. Manoj Dhupelia 2. Rupal Dhupelia 3. Mohan Dhupelia 4. Hasmukh Gandhi 5. Chintan Gandhi 6. Dilip Mehta 7. Arun Mehta 8. Arun Kochar 9. Gunwanti Mehta 10. Rajnikant Mehta 11. Prabodh Mehta 12. Ashok Jaipuria 13. Raj Foundation 14. Urvashi Foundation 15. Ambrunova Trust 16. The name of the chairman of a major Indian corporation is also part of the list, but TEHELKA is holding back his name until we have his full version.
zen Posted February 12, 2011 Posted February 12, 2011 The link didn't work. I don't know the foreign accounts and foreign exchange rule in Ind but is it like having Swiss bank account automatically = having black money in them
flamy Posted February 12, 2011 Posted February 12, 2011 ^ that's wat i've been wondering aboot. they are tax havens, so would that be construed like that?
ravishingravi Posted February 13, 2011 Author Posted February 13, 2011 The link didn't work. I don't know the foreign accounts and foreign exchange rule in Ind but is it like having Swiss bank account automatically = having black money in them Nope, it is about not accounting for the bank balance in Swiss banks. If the money has accrued or/and been recieved in India then it has to be first taxable here and then can deposited wherever the client wishes to. These are the unaccounted bank balances. I have fixed the link although it doesn't say much else. Swiss banks also have some of the most controversial practises when it comes to banking norms.
flamy Posted February 13, 2011 Posted February 13, 2011 Nope' date=' it is about not accounting for the bank balance in Swiss banks. If the money has accrued or/and been recieved in India then it has to be first taxable here and then can deposited wherever the client wishes to. These are the unaccounted bank balances. I have fixed the link although it doesn't say much else. Swiss banks also have some of the most controversial practises when it comes to banking norms.[/quote'] and what if you make money abroad?
DomainK Posted February 13, 2011 Posted February 13, 2011 So where does Tehlka find the information many governments and intelligence agencies cant find?
CSK Fan Posted February 13, 2011 Posted February 13, 2011 So where does Tehlka find the information many governments and intelligence agencies cant find? The goverment agenices were handed over this list. It was leaked out to Tehelka by someone
ravishingravi Posted February 13, 2011 Author Posted February 13, 2011 and what if you make money abroad? Flamy depends on the residential status of the person and DTAA i.e. an agreement with the foreign country where money has accrued to waive off the tax. In case the person is non resident, his inc. abroad is not taxable. In case he is resident and ordinary his world income will be taxable in India. In any case, he is supposed to disclose his balances.
Guest Gunner Posted February 13, 2011 Posted February 13, 2011 Nope' date=' it is about not accounting for the bank balance in Swiss banks. If the money has accrued or/and been recieved in India then it has to be first taxable here and then can deposited wherever the client wishes to. These are the unaccounted bank balances. I have fixed the link although it doesn't say much else. [b']Swiss banks also have some of the most controversial practises when it comes to banking norms. O Rly? What would those be?
flamy Posted February 13, 2011 Posted February 13, 2011 Flamy depends on the residential status of the person and DTAA i.e. an agreement with the foreign country where money has accrued to waive off the tax. In case the person is non resident' date=' his inc. abroad is not taxable. In case he is resident and ordinary his world income will be taxable in India. In any case, he is supposed to disclose his balances.[/quote'] Thanks. I was wondering if there would be double tax, once in the foreign country and once in India. That would be pwnage. :((
ravishingravi Posted February 14, 2011 Author Posted February 14, 2011 O Rly? What would those be? Well, they have fairly relaxed norms when it comes to the vetting process while inviting deposits from other countries. They also have been fairly non concerned about source of money. Hence, those who own large unaccounted funds launder their money and transfer it there. However, one things they are good at is they never disclose their clients until this recent revelation
Recommended Posts