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“Much of the black economy in India is like digging holes and filling them. One digs a hole during the day and another fills it up at night. The next day, there is zero output but two salaries are paid.”India has lost more than $14.3 billion annually in illicit financial flow during the past decade making it one of the top exporters of such capital from Asia. In this paper the Author has shown how black money is a menace in India and analysed best possible ways to curb it. The paper is divided into seven chapters. First Chapter deals with the definition of Income under the Income Tax Act, 1961 ('the Act') and attempts to answer whether black money will be covered under the statutory definition of "Income". The estimate of black money lodged in tax havens by global financial institutions like the International Monetary Fund has reached as high as $18 trillion. In light of the global statistics, the second chapter discussed how the 'black money termite' has and is slowly gnawing Indian economy. Third Chapter analyzes Finance Act(s), current and yesteryears', to seek an answer as to how new provisions have been fashioned to curb the menace of black money. The Forth Chapter critically analyzes the barriers in investigation of secret bank accounts. Chapter Fifth deal with Section 50C of the Act which has been inserted to curb the use of black money into buying of immovable property. Chapter Six discusses DTAA & TIEA agreements entered by India with Switzerland, Mauritius and Germany and effects of existing provisions and mechanisms to curb black money. Chapter Seven visits the TIEA(s) in depth and gives brief information about the tax havens and government machinery under the said agreement(s). While concluding the authors have suggested certain measures which will be helpful in curbing illicit money slashed abroad.
This new edition of Christopher Stone's Plastic Surgery Facts has been completely revised and updated in line with modern practice. The content reflects the changes in the FRCS Plastic Surgery Curriculum and the book is now organised according to the curriculum's major headings. Written chiefly in note form to aid revision and retention, the book provides an overview of the full spectrum of plastic surgery practice. The text has been significantly expanded and re-edited to improve clarity and readability. Clinical anatomy, points of technique and the fundamental principles relevant to each subject area are explained. Relevant published articles are reviewed and illustrations have been included to reinforce important concepts. The specific focus on the FRCS Plastic Surgery exit examination makes this invaluable reading for examination candidates. This volume offers a factual and diverse overview of the body of knowledge in the specialty and is useful for trainees at all levels.
This book contains a wealth of information and analysis relating to mineral royalties. Primary information includes royalty legislation from over forty nations. Analysis is comprehensive and addresses issues of importance to diverse stakeholders including government policymakers, tax administrators, society, local communities and mining companies. Extensive footnotes and citations provide a valuable resource for researchers.
The Congressional Record is the official record of the proceedings and debates of the United States Congress. It is published daily when Congress is in session. The Congressional Record began publication in 1873. Debates for sessions prior to 1873 are recorded in The Debates and Proceedings in the Congress of the United States (1789-1824), the Register of Debates in Congress (1824-1837), and the Congressional Globe (1833-1873)
In this book, the author critically examines the standard explanations for the causes and consequences of black income generation. His analysis lays bare the pernicious effects of black income on the macroeconomy and the resultant inefficiency, waste in the economy and society.