Aishwarya/Amitabh named in Panama Papers: Global corruption scandal

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ponymo

@ponymo

Sparkler

+ 4

Posted: 9 years ago

#31

It is not illegal. As per RBI's 2004 provisions, any Indian can invest in offshore companies abroad, in any country, tax haven or not. These are merely names of people who have invested abroad. Problem, as this below text from First Post explains, will be if the money is not legitimate. If the money is their own and they have proofs for the same, it is not an issue at all.

http://www.firstpost.com/business/panamapapers-global-tax-evader-list-belittles-modis-90-day-black-money-hunt-2710962.html

Now, the obvious question is this. Is it illegal to invest in offshore companies if the earnings are legitimate? No. It is not. But, the problem arises if the money is earned in a jurisdiction, where they are liable to pay taxes, and the money is transferred across the border without doing so. In this case, this becomes unaccounted wealth' or what is informally known as black money'.

In other words, if the individuals mentioned in the Panama list are able to prove that the money invested in these offshore entities is legitimate and already taxed, there are no issues. Else, they can be in serious trouble.

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998331

Suspended

Posted: 9 years ago

#32

And here I was thinking Rai family was a modest family who still leads a middle class's life.

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998331

Suspended

Posted: 9 years ago

#33

Originally posted by: Coldplaying
Hope they both get jailed for tax evasion..

🤣

***

Btw, is this the full list? I heard, they will leak more names later. Apni apni favorites ke liye dua mangna shuru kar do sab.

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440733

Hibernated

Posted: 9 years ago

#34

Originally posted by: B-TEX
And here I was thinking Rai family was a modest family who still leads a middle class's life.

😆 😆 😆 😆 😆

I think their definition of a middle class lifestyle changed as soon as the daughter became a Global Icon.

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440733

Hibernated

Posted: 9 years ago

#35

Originally posted by: Mallika-E-Bhais
@Ri: Exactly!! Lol. Yes she's not only that but extremely manipulative. 😆

The B family definitely is the first family of BW. She could've married into an immensely wealthy family too, but honestly, for Ash this was the best match possible. She gets into a family that is not only very wealthy but very politically influential with a very very nice husband who adores & supports her a lot, and cares deeply for their family. Ash is born under a flawless star. That's it!

I can't add anything more to your post than my agreement 😆 You said it all.

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ponymo

@ponymo

Sparkler

+ 4

Posted: 9 years ago

#36

Another thing to be mentioned here is, these people are obligated to pay taxes on the money in India if and only if they made that money in India. If they earned money abroad, RBI norms no longer apply, and the rules of the land where they earned that money from apply.

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Shaitaan Haiwan

@Shaitan-Haiwan

Stunner

+ 8

Posted: 9 years ago

#37

Originally posted by: ponymo
Another thing to be mentioned here is, these people are obligated to pay taxes on the money in India if and only if they made that money in India. If they earned money abroad, RBI norms no longer apply, and the rules of the land where they earned that money from apply.

Sadly, people here aren't going to read what you're saying because they want to have another field day. This is such a nonissue and unnecessary topic. I'm surprised at the lows people will go to just because they dislike a celeb. "I wish they go to jail for tax evasion" to say that without having a clear understanding of the issue is quite sad

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ponymo

@ponymo

Sparkler

+ 4

Posted: 9 years ago

#38

Originally posted by: Shaitan-Haiwan

Sadly, people here aren't going to read what you're saying because they want to have another field day. This is such a nonissue and unnecessary topic. I'm surprised at the lows people will go to just because they dislike a celeb. "I wish they go to jail for tax evasion" to say that without having a clear understanding of the issue is quite sad

Well you know how the forum works, quite typical. I am sure Ash fans will also feel the same way about stars they dislike so I am would not take such posts seriously from either sides.

Anyway, another point I forgot to mention is:

RBI modified the rules in 2004. Which means until 2003, you were not authorized to invest in offshore companies abroad, whether or not the money is legit. So those people who have been said to have invested before 2004 are in trouble.

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Mallika-E-Bhais

@Mallika-E-Bhais

Trailblazer

+ 5

Posted: 9 years ago

#39

Originally posted by: .Rinnie.

😆
I think their definition of a middle class lifestyle changed as soon as the daughter became a Global Icon.

The Rai family was middle-class, but very well-respected in the Bunt community. Her Dad & brother were in the Merchant Navy though where you earn a couple of Ls per month but ya definitely middle class.. When she hit fame, EVERYTHING changed though.. That's what Success does. 😆

I admire Ash's drive, determination & success. She has guts, man. She has guts.