Under the campaign against black money, the raids conducted
on more than three hundred exhibition companies in select cities by the
Enforcement Directorate only show that illegal activities are being done under
the guise of doing legitimate business. There is a doubt about the companies
involved in the raid that after the announcement of the ban on black money,
they were largely exposed. Many of these companies also suspect that they sent
money abroad. From this raid, it is also known that despite repeated reminders
of the Prime Minister, some of the industry-business people are not shy of the
black money business. The most shameful thing is that people of a respected
profession such as chartered accountants are giving fertilization to this
bustle.
When more than three hundred exhibition-oriented companies were seen doing business of black money in nearly a dozen cities, then it can be easily estimated that how many such companies will be there across the country? According to a statement given in parliament last year, the Income Tax Department had marked more than one thousand companies which had suspected of whitening black money more than Rs 13,000 crore. If the country's industry-business is concerned about its prestige, then it has to abandon the tendency to make black money white by defying the rules and regulations through show-off companies. It is essential that the industry-business is to isolate the black sheep between them and identify them as they are doing wrong things and some of the scandals of slander take place at all. Undoubtedly, it can’t be satisfied only by the fact that the Enforcement Directorate is engaged in investigating three hundred suspected companies. It is not right that anyone can easily open a company in the name of doing legitimate business and then by doing the work of whitening black money through it. The government and its agencies can’t be unaware of it that if they are put in, the businessman of black money will have to pay a fine. They have been specializing in showing rules and misguiding the government system. Many times, the information about companies that have been used to buy “blacksmiths” seems to be compromised when they have largely manipulated. It is a serious matter that such companies are not the only means of tax evasion but they are also the means of consuming the money earned by criminal law. There is also a problem that the working system of the ED has not been very confident from the Income Tax Department. After all, how many cases are there in which the Enforcement Directorate has been able to punish operators of black money fraud companies? Regardless of the action taken by the Income Tax Department or the Enforcement Directorate, the message goes to the public that the scandal has been scrapped, but in fact it is difficult only. It is better that the government has made effective and equitable credentials of all those departments, through which campaign against black money is going on.
When more than three hundred exhibition-oriented companies were seen doing business of black money in nearly a dozen cities, then it can be easily estimated that how many such companies will be there across the country? According to a statement given in parliament last year, the Income Tax Department had marked more than one thousand companies which had suspected of whitening black money more than Rs 13,000 crore. If the country's industry-business is concerned about its prestige, then it has to abandon the tendency to make black money white by defying the rules and regulations through show-off companies. It is essential that the industry-business is to isolate the black sheep between them and identify them as they are doing wrong things and some of the scandals of slander take place at all. Undoubtedly, it can’t be satisfied only by the fact that the Enforcement Directorate is engaged in investigating three hundred suspected companies. It is not right that anyone can easily open a company in the name of doing legitimate business and then by doing the work of whitening black money through it. The government and its agencies can’t be unaware of it that if they are put in, the businessman of black money will have to pay a fine. They have been specializing in showing rules and misguiding the government system. Many times, the information about companies that have been used to buy “blacksmiths” seems to be compromised when they have largely manipulated. It is a serious matter that such companies are not the only means of tax evasion but they are also the means of consuming the money earned by criminal law. There is also a problem that the working system of the ED has not been very confident from the Income Tax Department. After all, how many cases are there in which the Enforcement Directorate has been able to punish operators of black money fraud companies? Regardless of the action taken by the Income Tax Department or the Enforcement Directorate, the message goes to the public that the scandal has been scrapped, but in fact it is difficult only. It is better that the government has made effective and equitable credentials of all those departments, through which campaign against black money is going on.
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