Uncontrollable Laundering to Amnesty
There is a set of citizens that believe that the Government was unable to control the laundering and therefore announced the 50% amnesty scheme.
The scheme allows anyone to pay 50% tax and convert black money into white money. 25% will be available for withdrawal immediately while the remaining 25% will be available after
years.
Many professionals are questioning this whether demonetisation was a worthy exercise and was the pain and slow down in consumer demand worth it if the black money hoarders will be able to convert their money into white with amnesty.
We look forward to your inputs and views!
more
The scheme allows anyone to pay 50% tax and convert black money into white money. 25% will be available for withdrawal immediately while the remaining 25% will be available after
years.
Many professionals are questioning this whether demonetisation was a worthy exercise and was the pain and slow down in consumer demand worth it if the black money hoarders will be able to convert their money into white with amnesty.
We look forward to your inputs and views!
more
Viewed by 4725
View all 91 comments Below 91 comments
After all black money is earned but retained without paying tax. Voluntary disclosure with 50% tax may not be bad. But it should not be applied to bribe money, extorted money, drug money or any other money earned with unlawful method. more
Dec 05
It is well known fact that most of the business man including factories owners have deputed their work men to deposit their money in emplyees account. Many employees has been forced to open multiple accounts for this purpose. IT department needs to scrutinise such new accounts and catch the defaulters. more
Dec 04
In this world there is no legislation which is foolproof. There is bound to be some unintended loop hole as also there are some people who manage to circumvent some of the provisions. It is a continuous process of fight between law makers and law breakers eternally. We cannot wish it away. more
Dec 04
yes, something is better than nothing. The most culprits are our politicians who are investing at abroad . They are shameless . There are lots of loophole in the system more
Dec 04
