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Old 27th May 2016, 22:13   #61
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Default Re: Income Tax Department procures customer data from luxury car dealerships

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Originally Posted by anand_lukose View Post
Name and shame. If the Panama papers grabbed so much headlines, I feel its a good thing and we need to see more.
Name the shame? Really? Amitabh and Aishwarya's name figured in Panama papers. What happened? Nothing. In fact Amitabh is part of BJP Govt. celebrations right now. No one is even talking about it.

Disclaimer: I have nothing against BJP or Amitabh. Just reacting to the comment that people are shamed. People are never shamed. Not in our country.
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Old 28th May 2016, 01:44   #62
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Default Re: Income Tax Department procures customer data from luxury car dealerships

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Originally Posted by pgsagar View Post
Name the shame? Really? Amitabh and Aishwarya's name figured in Panama papers. What happened? Nothing. In fact Amitabh is part of BJP Govt. celebrations right now. No one is even talking about it.

Disclaimer: I have nothing against BJP or Amitabh. Just reacting to the comment that people are shamed. People are never shamed. Not in our country.
I am sorry but in our country people who loot are glorified as gods and people who do it themself take years to get any recognition. A Raja got a glorious welcome when he made it out of jail and contested the recent elections. Half the adarsh scam folks still hold party positions. The folks who stood as anti corruption crusaders are today doing netagiri and running after more kursi. Getting everyone under the tax net is the best way to do it.

Sorry on my rant, on side note the main reason people try to hide their cash is seeing money thrown down the drain in populism. Name one city which has a very high standard of living with good water sanitation and waste management and infrastructure?

Maddy
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Old 29th May 2016, 10:22   #63
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Default Re: Income Tax Department procures customer data from luxury car dealerships

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Originally Posted by pgsagar View Post
What happened? Nothing. In fact Amitabh is part of BJP Govt. celebrations right now. No one is even talking about it.
I would agree with you on that. Something coming once in a while will not help.

However, if we start seeing increasing incidents of tax evasion coming along, wouldn't it be better ? A general increase in activism towards tax evasion is what I'm hoping for. NGOs which have actively worked for causes such as the environment, food standards, animal welfare have always attracted attention. I believe something similar on tax evasion will help. Just my 2 cents.
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Old 31st May 2016, 15:59   #64
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Default Re: Income Tax Department procures customer data from luxury car dealerships

Well, the lens is already in the car industry. Latest changes in regulations, that will impact even you and me:( received from a friend in the auto sales industry)::

Important message for People who booked car and expecting delivery of Car After 1.06.2016

Condition 1: Booked Car Value More than 10 Laces.....

NORMS: Any Vehicle Purchase After 1.6.2016, which value is more than Rs 10 Lacs, Customer will have to Pay 1% TCS ( Tax Collection at Source) of Car's Ex Showroom and Accessories Value at Dealership IRRESPECTIVE OF THE MODE OF PAYMENT.

1. Customer Can Change Name of Booking to His/Her blood relation before 5.6.2016, Otherwise Old n New both Name Customer will have to Pay Above Said TCS....IF THE VEHICLE VALUE EXCEED RS.10 lacs.

2. In Case of THE CANCELLATION OF ANY PENDING Booking, customer will have to Submit Cancellation application before 5.6.2016, After that TCS as per above structure will also deducted along with booking cancellation charges and balance will be refunded only....

Condition 2 : Booked Car less than Rs. 10 Laces

NORMS: Any Vehicle Purchase FROM 1.6.2016, which value is LESS than Rs 10 Laces, Customer Will have TO make 100% Payment through RTGS/ CHEQUE/ NEFT/ DD ONLY...Any Cash Portion Paid, Customer will have to Pay 1% TCS of Car's Ex Showroom and Accessories Value at Dealership.

1. If Any part Payment is Paid in Cash or Suppose to Pay Cash on or before delivery of Car 1% TCS will be applicable ON THE ENTIRE SALES VALUE AS EXPLAINED ABOVE. IN CASE OF PENDING BOOKING, IF THE Customer HAD Paid Booking in CASH, Kindly pay Same amount through RTGS / NEFT/ Cheque/ Or DD...and get refund of booking amount from Dealership through Cheque Mode before 5.6.2016

2. Customer Can Change Name of Booking to His/Her blood relation before 5.6.2016, Otherwise Old n New both Name Customer will have to Pay Above Said TCS, If Booking Amount or balance payment Portion Paid in CASH...

3. In Case of Booking Cancellation, customer will have to Submit Cancellation application before 5.6.2016, After that TCS as per above structure will also deducted along with booking cancellation charges and balance will be refunded only....If Booking done by Cash, If booked through other mode, on Cancellation charges will be deducted..




As I said it was received from a friend, so cannot confirm the authenticity or accuracy of the same.

But just another point to add to the current discussion in terms of steps taken to block diversion of black money into this industry.
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