India politics thread

Edgar Allan Pillow said:
@newgiz Didn't know you were desi. Where are you from?
Click to expand...

I live and work in Bangalore now. My father is a bank manager, so I have travelled all across the country from Delhi to Tamil Nadu. I always find the question of 'Where are you from?' a difficult question to answer. :)
 
The Man Himself said:
If it is genuine and someone at IT office took a pic then it is stupid and irresponsible. I-T is supposed to carry out this in confidential manner whether or not the money is white or black. People are already calling it out fake though. Some because of the date and improbability of same-day delivery of letter from Siliguri to Sikkim and then some are pointing to constitutional article 371F giving special status to Sikkim to support reasoning that it is fake and that Central direct taxes don't apply to them (with your background, I guess you might be knowing if it is the case?). Let's see.
Click to expand...
Don't think the letter has been delivered and the pic has to be taken by someone at the IT office.

Re:sikkim - from what I remember of my days of tax practice is that the income tax act extends to the state of sikkim and there is a provision made for exempting tax on all income arising in the state of sikkim. The way I see it is you have to declare your total income and deduct the income claimed to have arisen in the state of sikkim and calculate the tax on the balance income. I don't think there is an exemption to people from sikkim to not file their tax returns. Could be wrong also as I haven't practiced tax for almost a decade.

Stepping into @Moonred's shoes for sometime, I find that there is an officer posted in siliguri with the same name and handling the same charge. The stamps seem genuine. So it could very well be a genuine letter which someone leaked.
 
harshad said:
The way I see it is you have to declare your total income and deduct the income claimed to have arisen in the state of sikkim and calculate the tax on the balance income
Click to expand...

They have exemption u/s 10. So they don't need to disclose it at all I think. And filing return is not reqd if Income <BEL

That's only for income earned from the state of Sikkim I think.
 
The Man Himself said:
If it is genuine and someone at IT office took a pic then it is stupid and irresponsible. I-T is supposed to carry out this in confidential manner whether or not the money is white or black. People are already calling it out fake though. Some because of the date and improbability of same-day delivery of letter from Siliguri to Sikkim and then some are pointing to constitutional article 371F giving special status to Sikkim to support reasoning that it is fake and that Central direct taxes don't apply to them (with your background, I guess you might be knowing if it is the case?). Let's see.
Click to expand...

It's a showcause notice. Asking to show source of the same income. If they are able to prove that this is a legit income that would be enough I guess
 
prath92 said:
It's a showcause notice. Asking to show source of the same income. If they are able to prove that this is a legit income that would be enough I guess
Click to expand...
Ya I know but the pic shouldn't be circulated. I guess given that concerned person/business went ahead with 4.5L deposit, they must have arranged proof of it being legit.
 
Just passed the Coldplay concert ground a while ago and my god the lines are massive :lol: No one complaining about that though.
 
wr8_utd said:
Just passed the Coldplay concert ground a while ago and my god the lines are massive :lol: No one complaining about that though.
Click to expand...
This is primary school stuff. And will still get repeated incessantly across channels.
 
Yeah. that analogy doesnt make sense...
But neither does people lining up to see Coldplay.
 
I'd line up to see Coldplay but it's more Bollywood performances than Coldplay
 
I like Coldplay. What's wrong about them? Their latest albums are a bit shit, but their old ones are definitely worth a listen.
 
coolredwine said:
http://www.nytimes.com/aponline/2016/11/18/world/asia/ap-as-india-currency-chaos.html
Click to expand...

Ah the New York Times, the paper known for its overtly negative coverage of India and anything India does.

Nevertheless, I like how Mr.Hanke quoted in the article, predicts that people will start using dollars instead of Indian currency.That seems more like wishful thinking than reality.

Look the implementation could have been much much better than what it has been, but the prediction of doom and turmoil seem to be too far fetched.
 
I just came here now to say that Kejriwal is a cunning, disgusting prick. He is rumor mongering on twitter. He irresponsibly tweets shit and spouts bullshit. His behavior is shameful.

This afternoon he spun a death at a bank of a robber who hung himself in the fear of being caught, as being caused by demonetization. How disgusting. How much further low will he sink to? His behavior is unbecoming of a state chief minister.

Actual story:
http://www.newindianexpress.com/nat...gs-self-after-locals-raise-alarm-1540448.html

Kejriwal's tweet:

 
newgiz said:
Ah the New York Times, the paper known for its overtly negative coverage of India and anything India does.

Nevertheless, I like how Mr.Hanke quoted in the article, predicts that people will start using dollars instead of Indian currency.That seems more like wishful thinking than reality.

Look the implementation could have been much much better than what it has been, but the prediction of doom and turmoil seem to be too far fetched.
Click to expand...
I know NYT is an agenda driven leftist paper. :p But I was more interested in some comments they quoted.

"It is unclear whether this exercise will achieve any lasting results other than having created a national economic crisis, destroying confidence in the national currency and unleashing tremendous suffering for ordinary Indian citizens," Rajiv Biswas, Asia-Pacific chief economist at HIS Global Insight, said in an email.

"This will have a direct negative effect on retail sales and industrial output during the coming weeks," Biswas said.
Click to expand...

"It's not that easy to flush out black money," he said after a speech, while he was still the country's top banker. He added, "my sense is that the clever find ways" to get around currency overhauls.

Rajan has instead suggested better monitoring of financial transactions, such as using government ID cards to track major purchases, and improved tax enforcement.
Click to expand...

I don't know if there are any Russians on board, but a Russian colleague of mine told me that people pay bribes in Euros and Dollars in Russia. So there's that.
 
newgiz said:
I just came here now to say that Kejriwal is a cunning, disgusting prick. He is rumor mongering on twitter. He irresponsibly tweets shit and spouts bullshit. His behavior is shameful.

This afternoon he spun a death at a bank of a robber who hung himself in the fear of being caught, as being caused by demonetization. How disgusting. How much further low will he sink to? His behavior is unbecoming of a state chief minister.

Actual story:
http://www.newindianexpress.com/nat...gs-self-after-locals-raise-alarm-1540448.html

Kejriwal's tweet:

Click to expand...



I just hope that the next election shows him that he is not required in politics. It would be flabbergasting and scary if he has any hopes of going for the PM post in 2019 or the next election. He might even make up with Congress to get his way.
 
Witchking said:
I just hope that the next election shows him that he is not required in politics. It would be flabbergasting and scary if he has any hopes of going for the PM post in 2019 or the next election. He might even make up with Congress to get his way.
Click to expand...

He's worse than Trump. He brazenly lies on national television every other day and the media hypes him up like he's the next coming of Jesus. Its sad to see really.

The only credible opposition leader for next election is Nitish Kumar. No one else is good enough.
 
newgiz said:
I just came here now to say that Kejriwal is a cunning, disgusting prick. He is rumor mongering on twitter. He irresponsibly tweets shit and spouts bullshit. His behavior is shameful.

This afternoon he spun a death at a bank of a robber who hung himself in the fear of being caught, as being caused by demonetization. How disgusting. How much further low will he sink to? His behavior is unbecoming of a state chief minister.

Actual story:
http://www.newindianexpress.com/nat...gs-self-after-locals-raise-alarm-1540448.html

Kejriwal's tweet:

Click to expand...

I am starting to believe the conspiracy theory that AK was an all-party secret agent purposefully put into politics so that he can raise the common man's expectation of clean politics and then destroy it completely :D :D
 
I saw a guy shouting "500 ka 400" outside a building today.

I have about 20k in 100s .. does anyone want to give me 25k for it :lol:
 
Jaitley says they have money. So does RBI.
But bank branches claim they have limited cash.

Mysterious case of missing money.
 
ICICI bank near my house saying that they have no cash in bank or to fill ATMs.
If this mess is not sorted out by the time salaries come in end of month, people will be on streets protesting.
 
Yeah, it has been two weeks and I have't been withdraw cash yet due to the huge queues everywhere. Thankfully, I have the means to get by only on card and online wallet transactions.

I really appreciate a government which is proactive and goes above and beyond the usual political rhetoric. The ground execution needs to improve though.
 
coolredwine said:
But they said demonetization was a surgical strike on fake notes. :(
Click to expand...

The only way to reduce fake money is the move to electronic means. I still wonder why people don't take DDs to make transactions. Maybe Modi should announce that all DD commission are suspended and encourage people to use it.

I had a conversation with my cousing who just withdrew about 10k from his bank account simply because he felt like having new money. There is no actual necessity or need for the cash. I presume there are lots other who withdraw for the novelty factor...which makes the transition more difficult.
 
You must log in or register to reply here.