India firms shy on black money | business | Hindustan Times
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India firms shy on black money

business Updated: Aug 11, 2011 00:50 IST
Debobrat Ghose
Debobrat Ghose
Hindustan Times
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Indian companies may be proactive in sharing platforms with Prime Minister and finance minister to chalk out strategies for the benefits of the corporate world, but when it comes to suggesting ways to tackle the black money menace, it is way behind.

The central board of direct taxes (CBDT), by setting up a committee on black money headed by its chairman, created an email identification in June to get suggestions and feedbacks from various quarters of the society.

"After creating the email ID, we wrote to all the industry bodies and associations inviting suggestions from them on tackling the black money menace, but the board has not yet received any suggestions from the corporate world," a senior official at CBDT told Hindustan Times.

Major industry bodies and associations such as FICCI, CII, Assocham, PHD Chamber, Institute of Chartered Accountants of India — when contacted said no suggestions on black money have been sent to the CBDT.

"We're working on it," Assocham said.

"We’re expecting some concrete and fruitful suggestions from them on black money issue," the official said.