Crackdown on Domestic Black Money
Below are your key inputs on what can be done to crack down on domestic black money. Kindly review and if you have other specific inputs, please do share. We will be finalizing this for submission to the Ministry of Finance for actions.
Cracking down on Domestic Black Money
1. Demonetization of Rs.1000 & 500 currency notes should be done
2. Conversion to new currency should be allowed to a very limited extent and linked to Adhaar so as to prevent benami conversion
3. Major crackdown is needed in every city on merchants who illegally buy and sell foreign currency
4. Cash payment of credit card bills should be strictly monitored
5. Close watch should be kept over the activities of the chartered accounting firms, who have the expertise in manipulating balance sheets and converting black to white
6. Laws should be enacted to compel citizens to make cashless transactions beyond a minimal amount
7. People should be allowed to convert their black money into white by paying income tax at stipulated rates without asking any question within a specified time frame
8. Government should crack a whip on the shopkeepers selling goods without bill or with a ‘kaccha’ bill
9. Income tax should be reduced to motivate people to pay complete taxes
10. People travelling abroad frequently and filing no income tax return/sales tax return need to be tracked
11. Large spenders without substantial declared income to be tracked
12. Debit/Credit Card swiping machines should be mandatory in all business setups
13. Cash payments of more than Rs. 1 lakh in hospitals should be tracked
14. No cash payments should be allowed to material suppliers in the construction industry. more
Cracking down on Domestic Black Money
1. Demonetization of Rs.1000 & 500 currency notes should be done
2. Conversion to new currency should be allowed to a very limited extent and linked to Adhaar so as to prevent benami conversion
3. Major crackdown is needed in every city on merchants who illegally buy and sell foreign currency
4. Cash payment of credit card bills should be strictly monitored
5. Close watch should be kept over the activities of the chartered accounting firms, who have the expertise in manipulating balance sheets and converting black to white
6. Laws should be enacted to compel citizens to make cashless transactions beyond a minimal amount
7. People should be allowed to convert their black money into white by paying income tax at stipulated rates without asking any question within a specified time frame
8. Government should crack a whip on the shopkeepers selling goods without bill or with a ‘kaccha’ bill
9. Income tax should be reduced to motivate people to pay complete taxes
10. People travelling abroad frequently and filing no income tax return/sales tax return need to be tracked
11. Large spenders without substantial declared income to be tracked
12. Debit/Credit Card swiping machines should be mandatory in all business setups
13. Cash payments of more than Rs. 1 lakh in hospitals should be tracked
14. No cash payments should be allowed to material suppliers in the construction industry. more
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The Central Govt. is yet to implement strict action to bring in an Act against "WHITE COLLAR CRIMES" which are the crimes abetted by the Govt. officials , in their official capacity , to favour those who offer benefits of all kinds , by abusing their discretionary powers. India's Most Wanted Don Dawood-Bhai once declared in public "If you show me a police official ( in Mumbai) who is absolutely honest and un-corrupt, then I will quit this smuggling and gangster business" !!! This reveals the fact that even hardened criminals respect the un-corrupt. But Mafias never respect such officials eg. Satyendra Dubey and get them killed , by hook or crook. So, all honest govt. servants need to be protected from these goons , the henchmen of criminalised political parties. One Chief Minister's party members went about illegally purchasing hundreds of acres of land , in one state .This reveals where the thousands of Crores of Budget deficit is going to , in India. Into real estate . There are any number of sections in the Indian Penal Code a.k.a. I.P.C. (by the Men in Black) . Sec.423, 403,218,185, 177, etc. all deal with such illegal property transactions. Is the BJP govt. interested in getting hold of lakhs of Crores of Black Money in India ? Let us see ."Paarkalaam" said one famous Tamil intellect . more
Jan 05
People says to contain terrorism be offensive against terror camps in pakistan. But what about Indian support to these terrorist. Can pathankot attack is possible without local support. Can India control its terror supporting population. If you can't do this. Than you can't do terror camp distrution in Pakistan. more
Jan 05
Any Land/Real estate sales should be secretly investigated. That is where bulk of the black money changes hands. It is not difficult to trace the actual price paid in cash. more
Jan 04
