> > The obvious conclusion points to Azharuddin.
> > Of course I could be wrong about this and if so then I apologize.
> Thats right. Smear muck all over a man's reputation without even a
> shred of proof. Then, throw in a ***-wimp apology in case you
> get sued or flamed. Thats called "being a man."
> As for Rs. 160 million being a lot of money, yes it is -- but have you
> heard of a little thing called the stock market? Wise investments
> there, say over the last 5-10 years, could easily lead to money of
> magnitude... As could foreign investments....
> Lets just say he invested in Wipro for about 1% of its worth some 10
> years ago (wouldn't take much), the *interest* on his net worth would
> come to about Rs 160 million per year....
Hum. I believe this is inaccurate. The VDI scheme (Voluntary Disclosure
of Income) is the ability to make a one-time declaration of income that
has not been disclosed before, the "black" money (if you recall the old
Indian terms used). It is a one-time disclosure permitted by the
Government nowadays, to convert "black" money into "white". Often used
by gangsters, builders etc, who had a lot of undisclosed and untaxed
money, to get legitimate "white" money into their accounts.
I dont think this applies to the stock-market (if Iam wrong, someone
please correct me). For, like annual income, income from advertisizing
companies, money that the BCCI pays you, money from stock dividends etc
is above board, and you have to pay tax on it every year. It is
not "black" money. Thus it would not need to be disclosed under VDI
scheme (unless one had figured out a way to illegally conceal stock
income over several years - quite hard to do, one would think).
And, BTW, we are talking a *lot* of money here - 16 crores ! To give
you a reference point - the BCCI is the richest cricket board in the
world today, thats a well-known fact. Now, the revenues for the BCCI
last year (income, mind you, *not* profit) was almost exactly 16 crores
(the fact that the BCCI made a profit of 8 crores out of it by spending
no money to speak of on coaching etc is a different issue altogether).
So we are talking here about one single cricketer declaring in "black
income" an amount equal to what the richest cricketing board in the
world earned in an entire *year* - stadium receipts, TV revenues,
everything, all inclusive ! And this is just "illegal" income - in
*addition* to the incredibly large sums of legal money our cricketers
make (which by itself makes them the richest in the world, when BCCI
payments and endor***ts are both taken into account). It is a mind-
Sadiq [ who wishes he had enough to use the VDI scheme ] Yusuf
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> Data Mining Grp, Siemens Corp. Research, Princeton, NJ
> "These opinions are mine, not those of Siemens."
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