THURSDAY, MAY 14, 2015 (PAGE 6) DAILY EXCELSIOR, JAMMU From page 1 DM’s first high level review of situation Parl passes black money bill thrive in secrecy," he said, just The Government has also eign assets and not the domestic 2017, "we will not have to run along China, Pak borders on May 22 before the 'Black Money armed itself to attach domestic tax evasion which was being after foreign countries but infor- installations of Army and yatra. Moreover, if the infiltra- (Undisclosed Foreign Income property of equivalent value of taken care of by the Income Tax mation will reach us here". other security forces. tion attempts by the militants and Assets) and Imposition of such offenders. Act. As regards the list of names Parrikar would also get were curbed, number of the mil- Tax Bill, 2015' was approved by Stressing that the new black "If it is violation of keeping of alleged black money holders detailed briefing on security itants would go down drastically the House, two days after the money law was not "an amnesty national assets outside the coun- provided by the Governments of arrangements for Amarnath in the State, bringing relief to Lok Sabha passed it. scheme", Jaitley said it does not try...We have made it now a Germany and France, Jaitley yatra, starting July 2. The yatra, the people and reducing number Jaitley, however, made it provide for waiver of tax. predicate offence, which is said assessment have been com- this year, will continue till of terror attacks. clear that the new law will not Instead it proposes tax, penalty liable for an action under pleted in most cases and prose- August 29. Army will play cru- The Defence Minister was cover those having amounts and also prosecution. Prevention of Money cution have been initiated. cial role in security arrange- expected to visit some forward equivalent to Rs 5 lakh in bank Moreover, he said, "amnesty Laundering Act (PMLA) and The tax authorities had Army and police personnel pose with recoveries at Chasana ments for Amarnath yatra as it posts on the LoC during his accounts abroad, which may schemes also have a protection lead to attachment of equal raised a tax demand of Rs 4,520 in Reasi district on Wednesday. would be manning the heights visit. belong to students or those against naming and shaming... amounts of (domestic) assets," crore following assessments, he and shrine area of Shri Though Parrikar will not working there. Your identity will be kept secret. he said. said, adding "in each one of Arms seized in Reasi village Amarnath ji in South Kashmir visit Jammu during his first visit The compliance window There is no such protection Jaitley, while giving reasons those cases whatever steps have Excelsior Correspondent out at Kundradhan in Chasana Himalayas apart from other cru- to the State, he would be briefed will provide an opportunity to which has been granted." for not announcing any tax to be taken have been taken." tehsil of Reasi district today, cial points. on the situation in Jammu people to come clean by declar- The compliance window amnesty scheme, referred to the Responding to the sugges- JAMMU, May 13: Security official sources said. Sources said the Army wants region including LoC in twin ing overseas assets and paying will give an opportunity for pay- Voluntary Disclosure of Income tions for confiscating illegal forces today busted a militant The recoveries from the its summer strategy against the border districts of Rajouri and tax and penalty totalling 60 per ment of tax and penalty, he said, Scheme (VDIS) of 1997 and properties of Indians abroad by hideout in Reasi district and hideout yielded two AK-56 militants, which has already Poonch by the Northern Army cent, Jaitley said while replying adding "once the compliance said although the Government enacting a law, Jaitley said that recovered a cache of arms and rifles along with two maga- been put in place, to be success- Commander, who would to a debate on the bill on the last window closes, you are going to collected Rs 10,000 crore, the Parliament has no jurisdiction ammunition. zines, 82 rounds of 7.62 mm ful to maintain peace in the accompany the Defence day of the session. be taxed very heavily." revenue collections dipped in on other countries and "these are Based on specific informa- assault rifle, a radio set and one Kashmir Valley to ensure peace- Minister and the Army chief The timeframe for the com- Tax and penalty of 120 per the subsequent years. fanciful ideas" which may tion about presence of a cache hand grenade, he said. ful tourist season and Amarnath during their visit. pliance window will be notified cent, which will be imposed Also, the Finance Minister sound attractive. of arms and ammunition, The timely recovery of the In J&K, corrupt officers superannuate as part of the rules. after the expiry of 'compliance added, the Government had Elaborating on the initiatives troops of Rashtriya Rifles and arms and ammunition has "It is a taxation which is window', means the "value of given an affidavit in the taken by the global community police launched a joint opera- thwarted any untoward incident being imposed on an asset or an assets is gone," the Finance Supreme Court indicating that to promote automatic exchange tion and busted a militant hide- in the area, the sources said. honorably but enquiries don’t end income outside. Since the tax Minister said. there would be no such amnesty of information, Jaitley said the unaware of posting of an offi- place of posting of all the offi- has been imposed for the first Responding to apprehen- schemes in future. US Government has initiated Jyoti takes over as new EC cer. cers and officials facing the time, we are giving you a com- sions expressed by some mem- On demand of members for Foreign Account Tax NEW DELHI, May 13: Director of the Sardar Sarovar When the PIL came up for enquiries, at what stage these pliance period where you pay bers about harassment of inno- disclosure of black money hold- Compliance Act (FATCA). Narmada Nigam Ltd (SSNNL). hearing, Advocate Sheikh enquiries are and why erring 30+30 per cent and then you can cent persons by taxmen, Jaitley ers abroad on the basis of list of If a financial institution Achal Kumar Jyoti, a for- Born on January 23, 1953, Shakeel Ahmad, while pointing officers were allowed to super- sleep well. said, it will apply only to resi- such persons provided by for- does not comply with FATCA, mer Chief Secretary of Gujarat, Jyoti will have a tenure of near- towards vague status report, said annuate without being pun- "And then also remember, if dent and will not cover profes- eign countries, Jaitley said it it would have to pay a 30 per today took over as the new ly three years as ECs demit that the General Administration ished. The GAD Secretary, as you don't use this compliance sionals and Non-Resident could be done only after prose- cent withholding tax on all its Election Commissioner, filling office at the age of 65. Department has itself expressed per the direction of the DB, window now, time will run out Indians (NRIs) working abroad. cution was filed in the courts or US revenues including divi- one of the two vacancies in the An EC or a CEC has a inability to furnish details due to shall furnish the comprehen- because by 2017 there will be a "Are innocents going to be else it would be violative of dend, interest, fees and sales. three-member body. tenure of six years in office or non-cooperation from the con- sive status report before the realtime automatic disclosure of harassed as a result of this? The bilateral tax treaties. India is joining the agreement. “Jyoti took over his charge till he or she attains the age of cerned departments. “These first week of July. information taking place," he answer is no," Jaitley said, He said that Germany and At the same time, G-20 today at the Election 65 years, whichever is earlier. enquiries are intentionally He has also been directed to said. adding "those who work abroad the UK have objected to the cer- group is working on puting in Commission of India here,” a After V S Sampath demitted delayed in order to bury the apprise the Division Bench The Bill, which seeks to are not going to be covered. It is tain names provided by them place a mechanism for auto- senior official said. office in January, H S Brahma wrongdoings and to facilitate about the rules in vogue to deal unearth unaccounted funds and those who are resident taxpayers appearing in media. matic exchange of information. Jyoti is a 1975-batch Indian was elevated as CEC. But after the accused officers and offi- with the officers, who are facing assets stashed by Indians abroad and assesses in India, and who Once the agreement on glob- The initiative are likely to Administrative Service (IAS) Brahma demitted office, two cials to superannuate without various charges but have retired and provide for 120 per cent tax keep unauthorised income out- al automatic exchange of infor- become operational from 2017. officer who retired as state posts of ECs in the three-mem- being punished”, he added. from the Government services. and penalty in addition to 10- side are going to be liable under mation comes into effect in (PTI) Gujarat Chief Secretary in ber body have remained vacant. “Instead of placing these Justice Masoodi, in the open year jail term, will become law this Act." January 2013.