Changing Currency Colour effective Apr 1, 2017
One of the inputs from the circle to address Black Money was to change the colour of 500 and 1000 rupee notes effective April 1, 2017.
Such a move, if implemented by the Government will lead to a drastic reduction in the Black Money in the economy.
With this all citizens with these notes will have to visit the bank, declare source of income and exchange the notes.
We seek your inputs on how something like this should be implemented. Also, how should a scheme like this be structured so the black money can be deposited and utilized for nation building.
We look forward to your inputs! more
Dear All, changing color of currency!!!!!!!!! All notions buy ink & currency paper from one source, I have read long time back. So that can not be a solution for unearthing Black Money. I have read a lot about various means of generation of Black Money & MOney Laundering. It is multiple times of Global GDP. I doubt if most of the people who participate here have such deep understanding. So to Bringing back Black Money to Jan Dhan account is POSSIBLE through some good strategy I have researched that can be shared only with actionable authorities CLOSE TO HEART. The present Government of India Can do this. I keep writing this here for that purpose. I have Founded a Tad Dvam Asi Trust with objectives: to Democratically awaken the world to leave a civilized world to our own children, to Eradicate Malnutriton, to Eradicate Cross Border terror Nurseries as Business Houses, to Eradicate (Plug & Bring back) Black Money, all in a strategy, that cannot be shared in public platform please sirs. So if any one in this forum can arrange a meeting with Shri Modi Ji, his Cabinet, Shri. Amit Shaw Ji, Shri. Ajit Doval Ji, we will be doing the greatest service to the world Humanity. Thank you, Yours sincerely, K.S.Nagarajan. Founder Trustee, "Tad Dvam Asi Trustee Chennai EMail: email@example.com more
This will be a commendable move 60 yrs of balckmoney will come out more
The best way will be to introduce universal invoicing with link to identity(Aadhar) of persons involved in transaction: 1. Make all transaction beyond Rs 20000 compulsorily electronic. 2. Provide relief of 0.5% tax for all electronic transactions 3. Make real time credit of tax component to Govt. coffers. 4. Free seller from filing paper return except cases of disputes more
While various measures suggested by friends in the Local Circle here may the government continue trying, but unless the plug loopholes in the rules and procedures to generate black money the menace of black money will continue. Also, we cannot forget that today something like 75%-85% of black money is the base of India economy, besides its contributions to electioneering, capitation fees for admissions to professional colleges, purchase of movable and immovable properties, ostentatious weddings, etc. In today's circumstances cited above, I am not against hoarding of unaccounted cash or yellow and silver metals at homes or other safe places and the likes of BKBansals should not have been raided and investigated and finally forced to commit suicide. First stop generation of black money and then only talk of measures to unearth unaccounted or black money. And, it is the time that Supreme Court intervenes and put a brake on investigations by the CBI/Income Tax and others. more
Only colour exchange will have no extra cost to Govt.but the recording of such exchange after certain limit will increase National Income by having Income tax thus charged. After that Govt. has a Record of Money with the Persons. These Recording must be done with some National Unique Number of that Person who get exchange money. more