How does the Government plan to remove black money from India ? Step 1 : Demonetise Rs.500 and Rs.1000. get Rs.1420000 crores out of the market. Step 2 : Print Rs.2000 and Rs.500 and Rs.100 in the replacement market. Step 3 : Dismantle the cash economy by not allowing any cash transaction above Rs.10000 without PAN or Aadhar. Step 4 : All salaries and business expenses required to be made in cheque or RTGS only to claim expenses in Income Tax. All cash transactions to be disallowed. Step 5 : A Cash Limitation order will be issued that will allow only maximum cash allowance of total Rs.50000 per person. Step 6 : As the cash economy is destroyed after a few months, the Rs.2000 note will be demonetised with a limited notice. With very limited cash available in the market, the cash economy will be strangled to death. Step 7 : As some of the cash economy will try to shift to Gold, Gold coins manufacturing and imports will be banned. Step 8 : A Gold and Precious Jewellery control order will be issued which will allow only 500 gram of Gold per person and a certain value of other jewellery. Relaxation will be given for existing jewellery if declared to authorities as per format. After a certain date, all undeclared Gold and jewellery will be liable to be taken over by the state. Step 9 : A Property and Asset Declaration order will be issued where all property (Land, Buildings and Flats) and shares will have to be declared to the authorities in a particular format. After a certain date, all undeclared property or shares will be liable to be taken over by the state. That will complete the removal of black money from India. |
Monday 21 November 2016
How does the Government plan to remove black money from India ?- Shared
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