60% tax: to tax or not to tax that is the question
Saw some media reports that only 23% Jan Dhan accounts are still zero balance..think it would be better to tackle this on a case to case basis..
look into the past transaction trend of such accounts and find out the income..if such people are very poor like BPL then Govt should issue subsidy coupons like such people can use the amount in a certain way like invest in some Govt scheme for their future, use for subsidized LPG, or for buying basic provisions etc..Ensure that such poor ppl are not misused by the corrupt rich and the money transferred back into the corrupt accountholders..such poor BPL should not be taxed but the money should be used in a restrictive way..the people who are having normal savings bank a/c should be taxed 60% with 200% penalty..it pinches too much for the poor if the money received (agreed by unfair means) is then taken away or taxed..this will negatively impact BJP's voter share..the black money which has again entered the banking system should then be used, a certain %by seeing the avg balance in the now surplus Jan Dhan a/cs and put into the accounts of the remaining poor with Jan Dhan A/cs and they too should be allowed to use these funds for essentials..Govt needs to deal with this on a case to case basis..not a blanket tax rate for all..penalise the corrupt rich so that they think many times before converting white to black but may be prudent to adopt a softer approach towards Jan Dhan a/c holders..after all they have been used as a pawn by the corrupt..Govt needs to ensure that asap the Govt achieves 100% banked population more
look into the past transaction trend of such accounts and find out the income..if such people are very poor like BPL then Govt should issue subsidy coupons like such people can use the amount in a certain way like invest in some Govt scheme for their future, use for subsidized LPG, or for buying basic provisions etc..Ensure that such poor ppl are not misused by the corrupt rich and the money transferred back into the corrupt accountholders..such poor BPL should not be taxed but the money should be used in a restrictive way..the people who are having normal savings bank a/c should be taxed 60% with 200% penalty..it pinches too much for the poor if the money received (agreed by unfair means) is then taken away or taxed..this will negatively impact BJP's voter share..the black money which has again entered the banking system should then be used, a certain %by seeing the avg balance in the now surplus Jan Dhan a/cs and put into the accounts of the remaining poor with Jan Dhan A/cs and they too should be allowed to use these funds for essentials..Govt needs to deal with this on a case to case basis..not a blanket tax rate for all..penalise the corrupt rich so that they think many times before converting white to black but may be prudent to adopt a softer approach towards Jan Dhan a/c holders..after all they have been used as a pawn by the corrupt..Govt needs to ensure that asap the Govt achieves 100% banked population more
Viewed by 17
Tax 60% to get most of the black money out, the government also gets a huge amount to spend on useful projects to develop India in the true sense. However, after that do not just leave those crooks, keep track of them. Within one year go after the biggest 100,000 crooks. Also, when the nation needs money catch the medium crooks and get 100% out of them. It is stolen national wealth, sucked out of the common citizens and must be returned to the nation before Modi-ji's next term begins. Jai Hind! more
Nov 27
Keep debating on the subject Hope this happens! Time can show the proper direction, With present tax rules more
Nov 27
Plus huge amounts deposited in Jan Dhan a/cs in UP...what if corrupt Congress/SP/BSP have brainwashed innocent poor that see Congress/SP/BSP is putting this money into Jan Dhan A/c so vote the corrupt back to power and will spread lies against BJP that BJP is sending taxman after the poor and taking away the money from the poor with Jan Dhan A/cs..by charging 50% tax...this will cause huge political backlash for BJP then...pls deal with this on case to case basis.. more
Nov 26
Headlines say... Big cash deposits made in scrapped 500 and 1000 rupee notes that are declared to the Income Tax authorities are likely to attract a 50 per cent tax and there will be a four year bar on withdrawing half of the remaining money. Majority of Black money is not untaxed money but blood money from criminal activities like drugs, prostitution & trafficking, smuggling, etc. So seems to me 50% of blood money is valid white money to be reinvested in terror, drugs, trafficking, etc. Looks like another mistake the like of exchanging scrapped notes over the counter for new that almost messed up demonetization. 1. It lead to huge chunks of black money to be converted to white. 2. Incredible queues in banks due to proxy exchangers more
Nov 26
Recognizing the ills of Business with Currency even at queues, Exchange of Old Notes shall be through Account Opening as there is no other way to correctly carry the campaign. Real Citizen and Actual Account Holders were put to serious trouble during the last two weeks due to the business made with currency in Banks queues . more
Nov 26
