DIFFERENT WAYS IN WHICH THE INDIANS ARE CONVERTING BLACK 500/1000 NOTES INTO WHITE-
1. Temple donations: collect back after paying the priest commission
2. Back-dated FDs in co-operative banks and credit societies
3. Using poor people as money mules.
4. Giving loans to poor people w/o interest
5. Finding Jan Dhan account holders. by paying 20% commission
6. Approaching the banknote mafia to collect at least 50% back
7. Paying advance salaries.for the next three-four months.
8. Booking and cancelling Air/Train tickets.
9. Using professional money laundering firms.
10. Using farmers. as Agri income is not taxed.
11. Using political parties as donations upto 20,000 is permitted
12. Brazenly putting it in the bank. and show it as income other sources and pay 33% tax for the Assessment Year 2017-18 more
1. Temple donations: collect back after paying the priest commission
2. Back-dated FDs in co-operative banks and credit societies
3. Using poor people as money mules.
4. Giving loans to poor people w/o interest
5. Finding Jan Dhan account holders. by paying 20% commission
6. Approaching the banknote mafia to collect at least 50% back
7. Paying advance salaries.for the next three-four months.
8. Booking and cancelling Air/Train tickets.
9. Using professional money laundering firms.
10. Using farmers. as Agri income is not taxed.
11. Using political parties as donations upto 20,000 is permitted
12. Brazenly putting it in the bank. and show it as income other sources and pay 33% tax for the Assessment Year 2017-18 more
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Very good compilation... we must awake and arise from these and make people start thinking rational too.... Mera Bharat Mahan more
Nov 21
At least we as vigilant citizens, exchange such incidents and bring it out in this forum. So that people can be aware of such happenings (including to God for whom they are donating). Let the people who are indulging in such acts be aware whatever they are doing is ILLEGAL not right for the society in which they are living whatever the volume of the transactions they are dealing with. Even closing gold loans for others. Everybody is working hard burning night oil lamps to help somebody to ward off for a fee(for whoever and whatever reasons ) for a fee. Are they antisocial. Nobody will accept. more
Nov 21
Well Dr. Iyer, appreciable suggestions. But the milion dollor question is who will beii the cat ? It should not be left to the Govt. only. Tn a Democracy, everybody is part of the Govt.and system, which people hardly understand and if they do they deliberatily ignore with the attitude " Caltahai ". It must be appreciated that unless there is mass participation of people no programme however genuine and benifitiai it may be, shall be easy to implement and if implemented may hardly sustain. Iet us recall the economic downturn in 2008 - 09 that affected the business senario of entire world. But that did not make oppositions in any country including our to agitate and oppose the situation. What they did was to silently face and fight the situation to overcome the crisis which still many nations are yet to recover. But contrary to that, what is going on in our country ? Common people are lured and misguided by the selfish politicians to grind their own axes- " Vote ki Rajniti ". There is no short-cut to the problem that has been deepely rooted ina Democracy like ousr and it is quite unlikely that the people will rise so early and easily. Neverthless, the undounted will of the Govt must be appreciated and supported in all respect by people who should voluntarily keep aside their petty problems and support the Govt.'s ongoing initive against corruption and black money used against them.One practical solution - Let the M.P's and Legislatures of the ruling Parties visit their constituencies and appraise the people of the benifit of the Govt's initiaves. Once they are motivated then the rest is history. more
Nov 21
