Black money: Information exchange pacts turn troublesome for NRIs
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Posted on: 07-05-12 19:23:10
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Sunny Leone a true Canadian DESI now back in India !.
A very important news item. So I guess one has declare all their Indian property to CRA, ie. if they own anything.
Pimp daddy Manmohan, a NWO's stooge, leading India to one world government.
Meanwhile CBI investigations into trillions of dollars looted from India by his cronies are being stonewalled by him and his masters.
Tricksters formula no. 1 -
Sell it to your dad on much lower price and claim capital loss in foreign land , then ask your dad to put it on your kids name !!
t..hehehehehe...
This is plausible only for short term assets or assets purchased very recently. If one's parents(or NRI's themselves) have held assets over a long period of time, they cannot undervalue the assets. It is well nigh impossible.
Factor in the recent inflation in India, it will not be possible to undervalue even intermediate term assets, Ayakar Bhavan goondas will swarm the NRI and gang rape him with audits.
Quote:
Originally posted by ashedfc
This will open up a "Pandora's box"
I wonder who will benefit most; Govt of India; or the other Govt's who will end up collecting more taxes due to disclosure of previously undisclosed assets..
Its a perfect example of shooting in its own foot by India..
NRI's will stop investing in India and you guess which govt will lose.
