Does UK gives foreign aid to India and it is misused to build Statue of Unity?
The aforesaid question was raised in Quora and this was my answer (with few additions):
At the outset, please do stop sending money to India. As a matter of policy India stopped taking foreign aid two decades ago. But many Governments and agencies send money to NGO’s in India for specific projects. Not all money is spent on right purpose.
The biggest headache is the money sent for one purpose but used for CONVERSION to Christianity. Poor people allured by brute power of money start wearing cross and worshipping a deity of Jesus in place if traditional deity, not even knowing what it means. BTW the Jesus is often sitting in a YOGA posture.
In past few years GOI has cancelled accounts of 11000 such NGOs which had not filed the accounts of money received and expenditure thereof. But NGOs misreporting or cooking books are yet to be caught.
This was about aid to private agencies in India. Aid to a private agency is not the same as Government of India.
Why India doesn’t accept aid from foreign governments
India has refused to accept foreign aid for disasters since 2004, when a tsunami killed more than 10,000 people on its southeast coast. The government founded the Federal Emergency Management Agency in response to the incident, and vowed to clean things up on its own. Continue reading
Fifth budget of Arun Jaitley as Finance Minister:
Finance Minister of India announced the budget plans, last week. Interesting point was that he could not manage to curtail fiscal deficit. Another highlight is that this budget aims at pushing rural economy and healthcare. No candy has been provided to tax paying middle class by way of reduction in income tax unlike last year when many argue that the relief was academic.
The accounting of budget 2017-18 is here. As may be seen the revenue from non corporation income tax improved by over 20% and this buoyancy has perhaps led to the Government to ignore the long standing demand to simplify the Income Tax laws.
Income Tax in India:
My Dushahra Greetings to all.
Vijaydashami is another name for Dushahra Festival. It means the tenth day which marked victory. It is celebration of victory of good over evil and right over wrong. It is a day when we may find the wrongs within and set them right. There are many wrongs which PM Narendra Government has to fix in coming days. With opposition busy in finding emotional issues for its vote banks, constructive issue based opposition is the casualty. In democracy, opposition is a necessity but an ignorant opposition or the one which is merely rhetorical is a dis-service. Anyhow these are some of the topics which should attract the attention of the Government may not be in same order in which these are listed below:
Every one is crying hoarse that GST has devastated but without actually putting finger on the problem. Of course it is now admitted fact that GST Network suffers from incapacity. hope it shall be rectified and bandwidth of servers shall be increased. Mr. Jaitly needs to be explained by some technical expert, that capacity of 100 thousand users per hour is actually just 10 users per second or at any given time. Therefore the technical staff need to be dealt with and bandwidth need to be increased which is poor.
However the worse problem is B2B SME traders. Small traders with a turnover of less then 20 lacs need not pay GST. In business to business transaction the buyer will prefer to buy GST paid goods so that he may get credit of GST already paid. This has suddenly made traders supplying to big businesses, redundant. Business who are paying GST want to buy only GST paid goods. This is the biggest mess. Continue reading
One Country One Market One Tax.
Goods and Services Tax is finally here. GST is tad bit late. Say by a decade. Starting from Canada, Australia, Japan, Europe and even Malaysia has it. All had to face its share of woes in switching to new system of taxation. Historically the idea is as new as Internet. Taxation is prerogative of every sovereign authority. In democracy there are too many sovereign authority in practice than in theory. GST will replace, Excise, Counter-veiling duty, VAT (Sales Tax), Luxury Tax, Entertainment Tax, Entry Tax and Octroi among others. But let’s note the key benefits.
Eliminate tax on tax.
As mentioned above many taxes are imposed on the price inclusive of goods. For example excise is levied when goods leave factory and is included in the price realised by manufacturer. Sales tax or VAT is levied when goods are sold by retailer. Yet again luxury tax is levied if sale is made at an establishment treated as luxurious viz 5 star Hotel. Continue reading
Is HRBlock.in duping people?
Thuggery is an ancient offence. It is an act of stupefying another human being by winning his/her confidence. Now a days it is called Conman act. Thuggery was also violent in the end. Often culprit used to kill people. I hope HRBlock is not that brutal. In India ancient name of offender was Thug. They would deceive by tempting people with attractive offer but releasing selective piece of information or concealing material information. Such acts are also a fraud u/s 17 of Contract Act. Read here about the ingredients and effect of fraud.
HR Block is an online Income Tax Return preparer cum filing facility which uses API’s of Income Tax Department of India. Its profile proclaims: Continue reading