Break-down the Silos !
===============
Indian Express ( 15 Sept ) carries following news
report :
“ Tax dept, MCA to share PAN , audit reports
“
The income tax department and the
ministry of corporate affairs (MCA) have signed a pact to regularly share data,
including PAN and audit reports of firms, to crack down on shell companies, the
government said today.
The pact aims at curbing the menace of
money laundering, black money and misuse of corporate
structure by shell companies, a finance ministry statement said.
The MoU for Automatic and Regular
Exchange of Information between was signed between the MCA and Central Board of
Direct Taxes (CBDT) on September 6 and took effect the same day, it said.
Under the pact, tax authorities will now relay audit
reports of corporates and specific information from their I-T returns along
with PAN data to MCA.
Besides, financial statements filed by
corporates with the Registrar of Companies, returns of allotment of shares and
statement of financial transactions received from banks will now be shared
between the two departments.
“A Data Exchange Steering Group has also
been constituted for the initiative which will meet periodically to review the
data exchange status and take steps to further improve the effectiveness of the
two agencies,” it added.
The MoU will ensure that both MCA and CBDT have
seamless PAN-CIN (Corporate Identity Number) and PAN-DIN (Director Identity
Number) linkage for regulatory purposes.
“The information shared will pertain to both Indian
corporates as well as foreign corporates operating in India,” the statement
said.
The data will also be shared for the
purpose of carrying out scrutiny, inspection, investigation and prosecution.
The government has already said that over 1.06 lakh directors will be
disqualified for their association with shell companies.
The MCA is in the process of cancelling the
registration of 2.09 lakh companies that have not been carrying out business
activities for a long period. Besides, banks have been asked to restrict
operations of these companies’ bank accounts by their directors or their authorised
representatives. Following deregistration of over two lakh companies
currently there are about 11 lakh companies with active status.
Congratulations , Shri Jaitleyji :
I hope this is only the FIRST STEP towards
implementing my following blog / suggestion
Thursday,
3 April 2014
E - Governance ?
Can
e-Governance help eliminate corruption ?
Most
certainly
Look
at the following , partial list of Central and State Agencies set up to fight
fraud , money-laundering , corruption , tax-evasion , economic crimes etc :
Public Accounts
Committee (
PAC )
Central Vigilance Commission
( CVC )
Central Information
Commission ( CIC )
Research and Analysis
Wing (
RAW )
Serious Fraud Investigation
Office ( SFIO )
Information
Bureau
( IB )
Economic Offence
Wing
( EOW )
Central Bureau of
Investigation ( CBI )
Department of Revenue Intelligence
( DIR )
Comptroller and Auditor
General ( CAG )
Anti Corruption Bureaus ( States )....
( ACB )
Enforcement
Directorate
( ED )
Lok Ayukts (
States )
Lok
Pal ( Central
)
Despite
such an army of Agencies , how do corrupt manage to get away ?
Or
, in case caught , manage to delay delivery of punishment for years ?
No
doubt , there must be several reasons , including , inter - agency rivalry to
get credit - something difficult to eliminate altogether
But
, I believe , the most important reason is :
Lack
of a COMMON / COMPUTERIZED database of all offences / cases / persons
being investigated
And
, which is readily " Accessible " to all of these Agencies , all over
the country ( 24 * 365 )
Already
, every Agency compiles huge dossiers on " Suspects " in its
own
"
Departmental Database " , which is never shared with other Agencies ,
leading
to ,
Huge amount of duplication
of efforts / information
Fractured / scattered
profiles of " Suspects "
Enormous waste of time /
resources
What will help ?
Dismantling of individual departmental
databases
Merging of all Agency-wise databases
into a SINGLE / UNIQUE database
All Agencies to enter their findings /
data / info into this COMMON
database , with nothing preserved on local computers
All data-entry FORMS to be ONLINE . No
paper forms at all
All local computers connected to
ultra-secure Network ( Encrypted )
" Access Rights " to
individuals , based on Biometric Identification
Will
BJP want to make this , a prominent promise in their Poll-Manifesto , likely to
be released on 7th April ? ( Congress / AAP missed this
boat ! )
It
is high time political parties stop talking of motherhood in vague terms and
start telling the voters ,
"
If you vote us to power , this is precisely what we will do , to bring about
E-GOVERNANCE - and do it within 6 months of assuming power "
16 Sept 2017
www.hemenparekh.in
/ blogs
With Regards,
hemen
parekh
(
M ) +91 - 98,67,55,08,08
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