In a surprising development, jailed conman Sukesh Chandrasekhar has written a letter to Finance Minister Nirmala Sitharaman, offering to declare his $2.7 billion (₹22,000 crore) overseas income and pay a whopping ₹7,640 crore in taxes. Currently lodged in Delhi’s Tihar Jail on multiple fraud charges, Sukesh claims the funds were earned legally through international ventures and wants to bring them back to India to support the nation’s economy.
A Bold Proposal Amid Controversy
In his letter, Sukesh outlined his willingness to clear ₹7,640 crore in taxes, a figure calculated under India’s tax laws. He further requested a meeting with the Income Tax Department and other relevant authorities to validate his claims and discuss the repatriation of funds.
Sukesh emphasized that his assets were “legally earned” and complied with international banking laws, aiming to assure the government that this was not a scheme to evade justice but an effort to contribute to India’s growth.
Details of Sukesh’s Proposal
- Declaring ₹22,000 crore in overseas income.
- Paying ₹7,640 crore as tax liability under Indian law.
- Bringing the funds back to India to boost the economy.
Legal and Public Reactions
While the offer appears lucrative for India’s treasury, legal experts are questioning the timing and legitimacy of Sukesh’s claims. Authorities are likely to scrutinize the origins of his wealth to ensure it is not connected to his criminal activities.
Critics suspect the letter could be a strategic move to ease his legal troubles, as Sukesh faces multiple allegations, including impersonating high-ranking government officials and committing large-scale frauds.
Implications for India’s Economy
If the claims are verified and approved by the government, the tax revenue from Sukesh’s proposal could provide a significant boost to the nation’s coffers. However, the Income Tax Department and Enforcement Directorate (ED) will first need to thoroughly investigate the authenticity of his declared income.
Government’s Role and Response
The Indian government has yet to officially respond to Sukesh’s letter. However, legal experts point out that laws under FEMA (Foreign Exchange Management Act) and IT Act (Income Tax Act) will determine whether the repatriation and tax declaration can proceed.
Public Sentiment
Reactions have been divided:
- Skeptics: Many see this as a ploy to gain legal leniency.
- Optimists: Others argue that if legitimate, the ₹7,640 crore tax payment could be a much-needed economic boost.
