Monday May 26, 2008

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Politicians make IT redundant! 

As per Press reports "Germany offers black money data but India dithers- Many bigwigs may be exposed". Most account holders are likely to be corrupt politicians and others hiding wealth obtained by dubious means. "Yes, but I do not think that ever their names will be made public and even if the public comes to know there shall be no concrete results as cases shall be shelved -closed as evidence shall fail because of rampant corruption and political powers.

Already few politicians name came in public limelight but corruption evidence failed and courts were helpless. Our systems (Rules) are such that it is difficult to catch and convict corrupt politicians. Many politicians seeking elections file the details of their wealth in crores of rupees without sources of its accumulation. How many of such politicians' cases are investigated by concerned authorities? There is no political will for it!

All persons -politicians- seeking public mandate must have PAN. It must be compulsory to state PAN in their papers filed for elections for any seat in Central/State/Local Administration. Those claiming income below taxable income must seek exemption certificate from the Income Tax Department.

Also, when details about their wealth is filed at the time of seeking elections, it should have annual increments to their wealth with their sources and details if income tax returns files-matching with it- since they become major or started earning income and accumulating the wealth of all kinds, such details of spouse and their children and near and dear relatives must too be filed. I hope our Finance Minister is hearing it and shall implement it in the next budget -if needed be by an amendment through ordinance and also in the forthcoming -recasted Income Tax Act!

The same should be published in major dailies-newspapers for public information and scrutiny. After all they wish to serve the public and not for accumulating wealth -as nowadays politics has become a business only!

M Kumar, Via e-mail

 

 
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