Sunday, February 1, 2009

Direct Tax Inspection Committee ( Vanchoo Committee )

Central Govt. of India made the Committee in the direction of Shri K.M. Vanchoo previous head Judge of Supreme Court of India for reducing the black money . This committee presented his report in the front of Parliament in 20 March 1972 . According to this report , in 1968-69 , 1400 Crores of Rs. saved from income tax .
In 31st Dec. 1975 , VDS showed 1500 Crores of Rs. which saved by public.
Today , according to new estimation , approximate 144000 Crores of Rs. is black money. It is true story that , Income tax theft is at large scale . Every year 500 to 600 crores of Rs. are saved tax by Income tax thieves .


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