Abolish Income Tax and levy 8% GST - Dr. Subramanian Swamy

foundation.moneylife.in/th_gal...
Dr Subramanian Swamy, senior leader of the Bharatiya Janata Party (BJP) on Friday called for abolition of income tax and levy only one tax, the goods and service tax (GST) at 8% after bringing black money stashed abroad .He was speaking at a book release event organised by Moneylife Foundation and BSE in Mumbai.
Dr Swamy said, "For black money, there are two symptoms. One is flow and second is stock of black money. Prof Vaidyanathan's estimate of Indian black money stock is Rs65 lakh crore. Illicit wealth stashed in tax havens abroad by Indians should be declared as national wealth and directed to be transferred to India under the United Nations’ Convention on Corruption."
The International Convention Hall of BSE where the programme took place was filled to the capacity. The attendees included many eminent lawyers, chartered accountants and senior consultants as well.
While elaborating on how the black money can be used, Dr Swamy said, corruption had affected the economy, politics and national security. "Apart from bringing back the black money we need to prevent its creation. Abolishing participatory notes (P-Notes), personal income tax (I-T) and registration charges for real estate is one of the ways to curb creation of black money," he added.
Dr Swamy says, "Even today, the tax rates, in my opinion, are unacceptably high. We have a need to have a much higher savings and if you abolish income tax, there would less paperwork, which is there due to the exemptions. If you abolish the income tax, then you begin the new process where fresh generation of black money is going to be discouraged as a consequence."
According to the former cabinet minister, some of the black money is sent abroad, while some kept here in India and spent on buying and developing land, especially for building luxurious houses with Italian marble and luxury items. About 75% of our investment is allocated for luxury industry. Another way to spend black money was through P-Notes, where money deposited abroad via hawala route is brought back to as P-Notes and invested in the stock markets. This got boost with the Mauritius treaty and much more money sent abroad through hawala came back to India after this.
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[@krssubramanian6935]

Whenever I hear Shri Subramaniam Swamyji, I am dazzled by his intellect and foresight and courage of conviction. I can also envision the grace and blessings of the Paramacharya of Kanchi Kamakoti mutt emanating through him. Salute you Sir.

[@sureshpolali4616]

Swamy looks slighly old in this video. He should be healthy for at least next 20 years. India needs Swamy very much. He is superlative person

[@AK-yq3cx]

Swamy must become the prime minister of India..... He is a genius

[@samronert3256]

content starts 7:36 Dr. Swamy is a magician :)

[@umeshgavade6958]

Learn to Draw Thanks for saving my time

[@abhishekscript]

Thanks brother

[@bharat..n8743]

Thank you brother

[@theseeker3141]

Subramaniam Swamy himself is Bharat Ratna standard. Make him the FM and then based on his performance he sure will be awarded one within our lifetime. Next is Prof. R. Vaidyanathan too. both are people that India needs as the FM but have not got it.

[@sshetty12]

Why modi is not interested in making swamy as FM?

[@theseeker3141]

Good question and it bothers me too, and my understanding is both PM MODI and Subramaniam Swamy are strong individuals and to work together has its own complexities which could be difficult to handle alternatively, FM Jaitely is a powerful person in the party who in many ways has shaped the strategies of BJP's electoral gains since long and can't be easily be pushed over to accommodate Swamy. Nevertheless Subramaniam Swamy is a FM India needs now more than ever.

[@somashekar3219]

Dr.Swamy can make best FM of India.Best of the brains.

[@gkprasath89]

This is why we love you Dr:Swamy. you reflect the voice of common man so precise. Sad Modi didn't give you finance ministry and he'll regret for that

[@shanmugamsubramaniam8652]

Mr. Swamy, I hope your words come true that Mr. Vaidiyanathan becomes the Commissioner of Income Tax Tribunal.

[@nagrajkamath1717]

Dr Swamy should be finance minister

[@WriterSoumyaMitra]

Swamy must become the Finance Minister ASAP!

[@artivedi7097]

who will make modi understand

[@WriterSoumyaMitra]

I hope someone! We can make by posting on NAMO App (I am it'll work)! I think BJP doesn't understand Subramanian Swamy! They are afraid of Swamy! There are only two ways to make Swamy FM! 1. by creating a community of like-minded people in BJP & RSS, 2. by letting Jaitley fail. There has to be a combination of both Brahmans and Kshatriyas in the political diaspora which BJP lacks. Moreover only making Modi understood won't help the heads of the party has to understand the value of Swamy.

[@prabhalaramakumar499]

Modi ji o kaam kabhi nahi karega.. Swami ji apna karnge... Modi ji kee ek nahi sunenge :D

[@WriterSoumyaMitra]

April '18 kucch to hoga.

[@josephlutchmansingh6933]

Dr Swamy you are one hundred percent correct; this is my firm belief as the solution for revenue to the treasury, for those that have more and spend more pay more.

[@KESHAVAN7]

Out of the entire speech the one that caught me , was when Dr. Swami pointed out Materialism has become new value system.

[@music4relaxationmeditation707]

From today onwards Dr Subramaniam Swaymy Is my God ! India should pray to this God to make India great again ! who does not like to be the worlds no 1 in terms of self respect !

[@adityajain3697]

Modi could have gone down in history if he had listened to Swamy's advices on economic matters!

[@umeshkulkarni9687]

Dr Swamy sir, even if Direct Tax highest slab is brought down to 10% and lowest to 5%, with GST @8% will be phenomenal for widening tax base and for economy to start with before abolishing Income Tax.

[@rohittrivedi8544]

Modi should use his knowledge an tenant, before it is too late

[@iamkoushik]

intelligent for a reason!

[@andersonpeter5580]

Please make swampy sir as finance minister

[@MrSirAussie]

WE WANT IT.......Mathematical Fiscal Models shows it's viable & sustainable proposition.........Surely a Unprecedented GIGA GAME CHANGER policy for NEW INDIA.

[@swarup.k.dasgupta537]

SANATAN HINDU DHARMA stands on four pillars (Dharma is four - footed). *Respected Dr. Subramanium Swamy is like the "one pillar of the Dharma", also a backbone structure of all INDIAN.* May Almighty Supreme Creator BRAHMA bless Subramanium Swamy in all respects. *He is also a symbol and example of honesty character of Hindu and Hinduism also.*

[@jedus007]

swamy must stand elections as an independent , he will win the elections with a massive majority, he is a brilliant politician who must be the finance minister of India irrespective of which party rules India. Jaitley is a disaster.

[@vinayc]

My fav section -> 50:03 Swamy should be the finance minister ASAP!!! :)

[@ss12398]

50:03 👌

[@sshetty12]

I am waiting for him to become finance minister

[@rajoooprakash2465]

Not Finance Minister - he should be PRIME MINISTER!

[@digitalsidequest]

I would rather S Gurumurthy become the Finance Minister.

[@theredbullstar]

Wow,swamy choose between USA/Noble and India... He choose India and such a critic in economics !!

[@EcoHubIndia]

Money is not a index of social stature but it is the symbol of deterioration of one’s soul and admiration of pirate system of economy.

[@sureshruparel9114]

This very same suggestions I gave abolish income tax even put one point of taxation remove bottlenecks from system, simplify working kick unproductive expenses incurring policies bring more streamlined easy operational dynamics

[@suvojitganguly9568]

looking forward to reading this book even prof vaidyanathan last book( india uninc) was very good..

[@1729joshy]

Honourable Prime Minister should implement Dr Subramanyan Swamiji proposals regarding financial and Hinduism related matters immediately for the welfare of hinduthwa and the nation

[@tanmay91patil]

Where is recording of prof R.Vaidyanathan ??

[@v-indian6732]

swamy should be our next primeminister

[@ajitnairk010]

No. The country needs Modi to be PM. Swamiji is the perennial pain in the ass of the corrupt. Let him be given a free hand to go after the corrupt.

[@vics25]

I think he is doing much better job at present position don’t tied him up with some position for right now plus he can kick some butts !!

[@avidika882]

this makes sense. and should be implemented

[@rameshiyer10]

Fine talk. The usual sarcasm n wit that Dr. Swamy is known for. Prof. Vaidyanathan should be commended for his efforts to educate / highlight corruption in India. It's a pity we haven't had a single PM/Union Minister who would fight against corruption at all levels of govt. More power to people like Dr. Swamy & Prof. Vaidyanathan !

[@duckwalkerindian4689]

if Modi does not rise up to the occasion n listen to d wisdom of this blunt speaking man with d devil may care attitude.....it ll b his greatest mistake ever.....

[@rohittrivedi8544]

Chidambaram has talked about Kashmir autonomy but he does not want to talk about his black money

[@bchetan]

ROHIT TRIVEDI when Modi can go to Pakistan to attend friends daughters wedding, without any schedule and BJP can form Govt with separatists PDP, what is wrong in PC? There is should be some limit to double standards

[@gagandeepsharma003]

ROHIT TRIVEDI brother he was a real traitor In our country thats why I hate Congress

[@gagandeepsharma003]

Chetan Hanumantha that called excellent politics be sweet hit hard

[@sagarbiswas7525]

Jai Bharat, jai Swamiji.

[@uguensonam1459]

This doesn't make any sense. GST is a regressive tax, so applying 8% uniform GST rate would negatively affect the poorer section of society and lower middle class. India should instead apply a uniform income tax rate to reduce complication. Corporate tax rate and tax on dividend also need to be streamlined.

[@pareshshah3517]

what is reason in modi goverment dr subramanian swamy does not get any porfolio despite the only honest politician and more intelligent politician then any politician

[@subramaniamsrivatsa2719]

Precisely the reason you mentioned ..he is an intellectual and honest politician !

[@contactmsr]

super stuff! Man we need this hour to secure BJP's future in 2019

[@nirmalakhemlani1154]

Dr. Swsmy if u are offered finance ministry now will you accept in this state will u ne able to improve it

[@ratiranjansahoo3895]

What is the book name & where we get purchase this book . What topic mention in this book

[@prabvinay]

RATI RANJAN Sahoo www.amazon.in/gp/aw/d/9386850079/ref=mp_s_a_1_1?ie=UTF8&qid=1509208453&sr=8-1&pi=AC_SX118_SY170_FMwebp_QL65&keywords=Black+Money+and+Tax+Havens

[@abdulnasarkkp2365]

abolish income tax

[@boskojames2527]

And three years has passed since speech and we are waiting

[@SaiTeja-zi4uc]

Why isn't he in government, this legendary human should be the chief advisor on all Economic policies.

[@shreeharikulkarni9684]

What is name of book

[@bikashsingh650]

Subramanian Swamy u r really a GYANI..

[@rajendramirji5830]

Very educative speech.

[@dr.suvarnaravi9774]

If Modiji abolishes Income Tax and fixes just 2 flates rates for GST,one for non luxury goods and another for luxury goods ,BJP will get at least 350 seats in 2019 poll. FM Jaitley can initiate these bold steps.V.Ravi

[@ElaiyaperumalPonnusamyGounder]

I really like his suggestion

[@maharajbaiju]

Great Human and good quality

[@renukasahoo6927]

Wish you happy n healthy life. God bless you.

[@lokhima9]

LET THE INCOME TAX BE THERE BUT REDUCED

[@indianallways5720]

Instead of reducing the Income tax rate, why one should think of reducing the terms of politicians? why allow politicians to b politicians till death? Why not introduce a) 65 years as retiement age, b) retire those politicians who hav won for 2 times. c) All the wealth and bank deposits shd be available for scrutiny by the IT dept. d) They shd be just ordinery citizens ( Like presidents of USA). Why this shd not happen ?

[@ramanujamrangarajan5013]

I agree with Dr Subramanyam Swamy on Consumption Tax

[@salazardravens874]

The stange thing is, on the one hand I respect this man for his academic achievements and his brazeness but many of his own party members as well as the rival party actively engage in various scams that have been pointed out by the same channel and the same 2 heroes.

[@mgharia999]

Income Tax Must Be Abolished ... It will make India 5 times bigger economy than USA

[@nohandsignal]

sir what are you doing since 2014 ?? do you think these people that are ruling now are different from sonia and congress ???

[@umasarat2983]

No income tax would be unfair on lower income taxpayers! There must be at least two tire income levels so that higher income people will be paying a higher reasonable tax. The GST already affects everyone equally but for the change in rates of different consumables that different income earners would spent on! Flat GST can also be unfair unless certain low value essentials are kept out of the list, but easy to manage.

[@sushaneraviteja8458]

Long live swamy

[@htnakirsus]

Bad news is that Dr. Swamy's razor sharp observations and feedback are being sidelined by the current government. Three points which are already impacting Modi's govt are 1. Improper execution of Demonetisation project; 2. Unnecessary importance given to GST and rolling it out in a haphazard manner using inefficient GSTN; 3) Unable to bring back black money from abroad.

[@amjadsk.2469]

Sir, whatever u said ,it looks nice , but is it practically possible to bring back all black money from abroad. We don't have treaty agreements with major countries for tax evasion where indians moves frequently & invest.Our judicial system is so poor that cases regarding tax evasion is going to last decades.The first thing to do is to bring strict laws to prosecute people within a fixed timeframe & don't give them the liberty to take bails or fleeing from india, it should be made a non bailable offence.

[@vishwanathkaushik4702]

Once income tax is abolished there would not be any necessity of keeping money abroad.

[@pqpqpqpqpqpqpqpqpq]

-एक CA का संदेश- *व्यापारी मित्रो* 5%12%18%28% व्यापार करने की जरूरत नही ????? ऐसा लगता है आप और आपकी Association सिर्फ़ दीवाली,होली,नव वर्ष मिलन या MP, MLA के सत्कार के लिए ही बनी है | GST की समस्याओं से आपका कोई लेना देना नही है .आप लोगो की समस्याओं को लेकर जब हमारे CA Institute के 40 members represent करने गये तो हमे बहुत ही Shocking जवाब मिला कि हमे Trade association से इस matter मे कोई भी complaint नही आई है. आज आप लोगो को ध्यान मे नही आ रहा है की GST Compliances की समस्याएँ क्या है ? लेकिन अगर आपने आज आवाज़ नही उठाई तो कल आपके बच्चे आपका Business Continue ना करते हुए, वो Bombay या Pune मे Jobs करना ही पसंद करेंगे . Monthly Returns,बिल wise details, item wise details, Issue किए हुए Bills की details, Reverse Charge Tax (RCM ) मे टॅक्स भरने के प्रावधान, ये सारी समस्याएँ आपको नही दिखाई देती है क्या ? मैं दिन भर देखता हूँ कि आप Whatsapp, Face book, Twiters इन सब apps पर Active रहते है , Unregistered Dealers से 5000 के उपर का purchase करने पर reverse charge मे आपको टॅक्स भरना है. ये 5000 की Limit किस हद तक मान्य है ? क्या एक व्यापारी खर्च करने के पहले अपनी Books ही check करेगा कि आज मैने 5000 से उपर का purchase तो नही किया है ? या व्यापारी अपने Business पर ध्यान देगा ? 75 lakhs वाले व्यापारी और 75000 Crore का व्यापारी दोनो के लिए एक ही Rule है ? क्या 75 lakhcs वाले व्यापारी 1 Accountant की Salary और CA / Tax Practioners की fees afford कर सकता है ????????? एक छोटा 25-30 Lacs turnover करने वाला contractor जो Composition Scheme के तहत नही जा सकता उसे भी हर Month Returns भरना है , ये कहा तक possible है ??? श्री मोदीजी ने अपने चुनावी भाषनो मे कहा था, कि TAX की वसूली इस तरह होनी चाहिए जैसे मधुमक्खी फुलो मे से मधु निकालती है ताकि फूल की खूबसूरती खराब ना हो और शहद भी मिल जाए | लेकिन ये तो अजगर की तरह चिपट गया अगर एक जुट नही हुए तो ऐ निगल जाएगा देश Tax terrorism से मुक्त हो | पर GST के बनाए गये प्रावधान इस चीज़ की ओर इशारा नही कर रहे है | अगर अपने आज Monthly Returns के लिए oppose नही किया तो वो दिन दूर नही जब आपको Daily Returns भरने होगे. इसीलिए आप जागीए और अपनी आवाज को एक दुसरे से जोड कर बुलन्द करो पुरा देश हमारे दिए हुए कर से चलता है और ये सरकार हमारा ही दम घोटने मे लगी है अब पुरे देश के व्यापारी भाईयो को एक साथ एक दिन निश्चित कर, पुरे देश के व्यापार को बन्द कर देना पडेगा और अपनी एकता को स्थापित करना होगा 8/11/16 की रात से लेकर आज तक इन दोनो ने अपने आप को खुदा मान लिया है और हमको चोर हमे रोजाना धमकाया जा रहा है परन्तु ये ........नही जानते पुरा देश हमसे चलता है देश के एक करोड लोगो का पेट हम भरते है और कभी इनकी तरह स्टेज पर खडे होकर ताली नही पिटते अब अगर तुम्हे डर डर के मर मर के नही जीना है, नही चाहते की तुम्हारे दीमाग की नसे फट जाए तोअपनी आवाज को बुलन्द करो और एक हो जाओ ये धमकाने वाले हम से है हम इनसे नही। *गुमराह वो नही जो* *रास्ता भटक गये..* *गुमराह वो है जो घर से निकलते नही।* अभी भी वक़्त है , जागीए और अपनी समस्याओ को अपने आप सुलझाए आभार - एक CA

[@andersonpeter5580]

You are truly a legend

[@aqbalsandhu1297]

All companies are crying fowl about the current economy are those which had rec'd bank loans cheaply from Congress.

[@sureshsatapathy2207]

I AGREE WITH THE VIEW

[@ljosf]

This will be Modi's master stroke to win 2019 elections.

[@sunilmvs]

Swamy sir, I appreciate if you comment on Modi economics and show how he running Mafia to favour Ambani & Adani

[@chandanmahato9125]

Do it sir

[@music4relaxationmeditation707]

Some segments of Indias minority population wants Bagal mein do , aagye do and peeche do so untill they have six plus two in the family they wont stop making children after all they can use them to sell vegetables and fruits to boost Indian economy . Its high time the elected government comes out with a very strict law to control ever exploding population. Black money is secondary . I hope all Indians will agree with me on this !

[@digitalsidequest]

Unfortunately, all of them are still out on bail..

[@sidd1212]

1st one kudos

[@sidd1212]

to sucheta ji for making this public 4 all

[@karthikckrishna]

One of the founders of this construct… where are our 2000 rs notes?

[@anshuk9854]

Money is not the index of our social stature

[@Happytimes816]

tax on income and tax on expenditure are double taxation which is more burder on middle class citizens who are pillars of indian economy.

[@ksramani8712]

Mr. swamy is a strong healthy man when compared to Mr. Jaitley to take strong decisions for welfare of the country but the decisions usually will not be backd by other political outfits incl bjp, congress etc., - Many political parties try to capture power than looking the welfare of the people where as Mr Modi target for long run wellfare as india having poor infrastructure needs foreign investment - but anyway we should find a efficient finance minister as on now

[@jaibharathiricemillpvtltdb9404]

I want self made weed cutter

[@shivaprasadmaheshwadgi3339]

All Swamy fans please start campaign #SwamyforFM. He should be finance minister

[@SuchetaMoneylife]

Do attend the launch of Dr Swamy's book at Bombay Stock Exchange on 30th September 5.30 pm in Mumbai. Please email [e-mail] or call 022-49205000 for details.

[@kartikbhasin6087]

Swamy ji is absolutely thug life!!🙏😄

[@MsSexystrip]

Building a narrative for Modi 2019 :) Fighter, fighting is hard and results will follow soon :)

[@BenDover-nl3nw]

7:35

[@mprakashm]

No Politician get Punished, Swami Just Trying but nothing happen in reality

[@davesanthri]

Does he talk about all Indian Citizens and OICs filing tax returns ? Probably not.

[@rudrakr136]

Sir can even most of the People not filing tax can afford it

[@thamizhmarai6986]

If no BJP corrupt minister, then what happenned to the 2 trillion dollars hidden in the foreign banks. Govt. knows that - it can bring it back. Why it is not doing that? This is PASSIVE CORRUPTION.. Acting not against is also corruption...

[@ms55761]

Bad audio

[@amitdua9918]

Bad camera person: (

[@thamizhmarai6986]

I hate this guy for different reasons. But, I agree with his ideas on income tax and GST. But, how can you bring this 2 trillion dollars hiding outside. Both sucessive congress and BJP governments protected and protect the worst criminals of the country.

[@ankitraghuvanshi5514]

Why do you hate him...???

[@DipakBose-bq1vv]

Role of any progressive direct tax is to redistribute income, which is extremely unequal. When farmers are committing suicides, Ambani-Adani can borrow $1000 billion and get away with. Income tax can go up to 80 percent as it was in the USA during the Eisenhower days. Abolition of income tax will not help anything but will make life difficult for the Government, as it will have no money to pay for the education, health and other social sectors. This guy is dangerous. He is making the BJP unpopular. He should be expelled from the BJP.

[@mbazkii2002]

Same topic spoke during Congress rule, now again in BJP rule...no change its a going to be same Country......

[@markmenez]

Is he still representing Asaram Bapu?

[@lokithor9472]

Starts talking at 49:00 + ....thank me later.

[@j.jthompson7639]

HOW on earth is he going to bring money stashed abroad? What this government has failed so far?

[@vishwanathkaushik4702]

Once Income Tax is abolished there would not be any reason for anyone to keep one's money stashed abroad. They would bring all their money abroad or stashed in cash within the country.

[@shashankswamy6888]

unni menon please listen. Nationalise all accounts held in secret banking law countries. The UN is bound to get you all the details of those accounts then.

[@j.jthompson7639]

impossible. Indian laws will not hold good in tax havens.!

[@rohittrivedi8544]

Swami should have made finance minister,instead of Jatley who is an attorney . Modi is paying high price for this monumental blunder. Specifically in Gujrat. Modi is great Pm with unqualified ministers.

[@colddaniel4266]

modi has jaitkey like stupid ministers..but he has many qualified ministers too in his cabinet 1.rk singh(power minister) 2.rajyavardhan rathore(best sports minister) 3.suresh prabhu(commerce) 4.piyush goyal(railways n coal energy) 5.satyal singh(airways) 6.hardeep singh(housing) 7.nitin gadkari(road n waterways development) 8.Anant Kumar Hegde(health) 9.Kannanthanam(Electronics and Information Technology) 10.Shiv Pratap Shukla(fnance minister) 11.sushma swaraj(external n foreign affairs minister ) 12.Manoj Sinha(telecom) 13.Nirmala Sitharaman(defence) 14.Rajnath Singh(home minister) 15.Ravi Shankar Prasad(law n IT minister) and few more....!!! yea...arun jaitley....shivraj singh chauhan....and certain section of bjp+external forces from congress,certain buisnessmen/middleman doing everything agnist modi n grp crusade against black money...!!!

[@ss12398]

Yeah Jailey is holding position due to influence not bcoz of capability. Look at what mess was made of such good policies like Demonetization and GST. Lack of implementation and planning contingency.

[@colddaniel4266]

nt only becoz of influence..jaitley supported during tough times of MODI when he literally got sidelined b his own party n whole polcitcal circle due to gujurat riots issue....jaitley supported his prime minsiter campaign idea.. jaitley has strong influence of being mediator between bjp and congress(which is also a biig minus in a way)...plus all 90% of cong media n news channels+pseudo liberal fucktards hate the evr existence of modi.... but jaitley has good relarion with top media house owners....he influences them to a great extent..eventhough cong use media to propogate bad side of bjp ..guy like jaitley has influence on media house circle...becoz of him only ....bjp development wrks(from digital india to swach bharat to road or bridges or watver initatives) are shwn from time to time ......jaitley is a criminal lawyer instead of finance ministry he shld have been given law ministry nt only he would have better fit but some better wrk would have done there ...post 2019 elections within 2020 ...modi while his reshuffle of cabinet move...he shld dump jaitley once in fr all.... !!!

[@ss12398]

cold daniel yeah.. He could hv done significantly better and achieve in law ministry where much work is required.. I think this idea of 'big 5' ministries needs to go away.. where FM,railway ministry, defence ministry etc. these 5 ministries are appointed on basis of seniority or hold on party rather than their capability.. Although minister like Gadgari is there who refused 'big 5' ministry and asked for highway and construction instead as he had prior exp of it.. And he is doing incredible job.. But this msg is needed to go to party top leadership - appoint on basis of credibility and not on seniority basis.

[@megsarna7429]

ROHIT TRIVEDI shut up ,modi is d worst Pm

[@emmanueltamang7847]

Very witty

[@MrQuickPro]

..didn't pc chidambaran make Participatory notes to bring all black money to the stock market

[@ss12398]

It brings back black money just as money laundering. Leme tell you how. Corporate owner or ploitician X earns black money, transfers it abroad thru hawala channels. Invests in foreign market and in return gets a promissory or participatory note whatever you call it. As, chitambram has made participatory note legal it is accepted in stock market for investment but note that actual money is abroad only.(1) So the person comes to India and invests in stock market and at high self stocks. Often these investments thru notes is handled by X's proxy to avoid getting under authorities radar. When they see profit these investments go back... ie the nature of portfolio investments that they are highly volatile. Sell those share and money returns back.(2) This in fact promotes holding of black money. In fact there is practice among corporates where they earn black money and invest into their own companies in this way (using participatory notes) making black money white(3). Also India is an attractive destination in stock markets and Portfolio investments. So all in all Therese participatory notes are nothing but way to allow this Indian money while remaining abroad, to be used to enter Indian market earn profit in short term like a quarter and go back.(4) (1), (2), (3), (4) will give you an idea how clever chitambram was and what he did. No doubt he himself is the holder of black money.

[@mash4689]

Bjp's failure to give major ministerial role to ppl like Swamy makes it clear that Bjp is not interested in fixing issues whether it comes to economy, black money, corruption, kashmir, sending offenders to jail etc. Bjp is controlled by corrupt politicians like Jaitley to take any honest action to solve problems. Bjp's actions are not sufficient. They need to do more instead of talk more. India needs Yogi or Swamy as PM because Modi is not enough. Modi could be good foreign minister though. Unfortunately this country is full of worst political parties and bjp is the only option among them till now. It's a choice between worst and worst. #MakeYogiPM and #MakeSwamyFM

[@YashKansalx]

If you wouldn’t have written YOGI PM I would have supported

[@sunilpatankar8566]

Dear Mr Swamy, With all due respect to you, please stop referring to Mumbai as Bombay, it hurts!

[@sunitachetwani8033]

Why??

[@RahulSingh-nu2fb]

Sunil Patankar Bombay Bombay Bombay. ....

[@joys5711]

Now he talks like an idiot. Babus and politicians and admin bosses would then leave no stone unturned to make money as they won't be accountable to anyone. Swami is better with filing cases against Vadra's and Pappus. His concepts otherwise are bogus.

[@DK-lg7ti]

You got it bro...swamay is making hindustan fool for last 40 years.this.man subrmaniam swamy can not be trusted at all..period....in short swamy trying to put modi's hard work on lembo...to prove is point.......modi don't even consider swamy as part of bjp.....i trust modi but not this swamy

[@nprkrishnan]

His concept is to catch the big fish so the little ones will fear to tread surely the TOP order will be caught as they are always on his radar.

[@javedansari5347]

Sir, please stop talking like a mad man. In UK, Germany people pay 40% income tax. In our country only 76 lakh people showed income more than Rs. 5 lakhs per year out of which 56 lakhs are salaried persons. We need to increase tax base. Income tax constitute about 18% of revenue. We need modern army, best highways, airports, schools, irrigation system, electrification etc. etc. but if you start advising not to pay tax, how will Govt get fund? Will USA or Russia give money free? Please don't spread lies about foreign black money. Govt is taking action on all the information got through banks. Most of the black money might have been converted into properties abroad. Let us stop day dreaming and let the Govt work. Arun Jaitley is working very well and the whole country is satisfied. A few people like you who wanted ministerial post in Modi Govt are dissatisfied.

[@Fiery-ig3ov]

Ya. Increase tax on everything. You'll pay for the rising gas price and petrol price for all 1.4 billion ppl..