3 years of Demonetisation: Findings and Inputs Sought
3 years of Demonetisation - Survey Report
Actions sought by citizens for Black Money Crackdown
1.Major crackdown is needed in every city on merchants who illegally buy and sell foreign currency.
2.Cash payment of credit card bills should be strictly monitored.
3.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.
4.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.
5.Government should conduct organized and regular crackdowns on the shopkeepers selling goods without bill or with a kaccha bill.
6.Income tax should be reduced to motivate people to pay full taxes.
7.People travelling abroad frequently and filing no income tax return\/sales tax return need to be tracked.
8.Large spenders without substantial declared income to be tracked.
9.Debit\/Credit Card swiping machines should be mandatory in all business setups.
10.Cash payments of more than Rs. 1 lakh in hospitals should be tracked.
11.No cash payments should be allowed to material suppliers in the construction industry.
12.Hawala trade should be stopped through strong enforcement and those engaging should be arrested.
13.The existing laws against black money should be strictly enforced.
14.Land/Real estate sale and resales should be investigated in depth with multiple check points leading to investigation.
15.All properties / flats/ houses across India, should be digitally mapped, and the owner linked to a Aadhar or PAN number.
16.Scrap sales by businesses should be brought in books.
17.Debit/Credit card usage should be effectively secured so that people are not concerned about frauds.
18.Payments through net banking, debit \/credit cards should be incentivised and no cash transactions should be allowed above rupees ten thousand.
19.There should be no charges for shopkeepers in Credit\/Debit cards transactions through swiping machines, so that more electronic transactions take place.
20.Internet banking should be promoted and the mobile service providers should be asked to give 100 MB data free to users every month exclusively for banking through mobile.
21.A database should be kept online with the IT department on gold holdings of each jeweller and the sale should be logged into the system.
22.Government should encourage the banks to develop pay back scheme for cashless transactions.
23. Shell company crackdown must continue and those related to relatives of bureaucrats and promoters of large corporates must be scrutinized. more