Funds & Finance need Strict Application
Resultantly , Tandan Committee formulated Analysis of Balance Sheet and Profit & Loss Accounts applying Funds Flow and Cash Flow System for Every Bank to Strictly Check the Conduct of the Businesses and Stick to the Correct Eligibility SINCE THE LENT FUNDS WERE MISUSED which lead to the Serious Economical Situation in the Country .
2.In 1988-89 , Upon such a Situation once again , the same Congress Government Stopped adjustment of Earlier Losses for that particular year and made Compulsory payment of TAX ON BOOK PROFIT of that particular year , conditioning that the from the next year , the process of adjustment of carry forward losses will continue .
This also had to be faced by the Industrial & Business Sector . There were then started the manipulation in Books of Accounts AND THIS PRACTICE TOTALLY LEAD INDIAN BUSINESS SECTOR diversified towards Corrupted and malafied methods in their operation .
3. Later after another a Decade , the Government had reduced the amount of Income Tax from 55 % plus Surcharge to 30% on Companies and in its ration, on Firms too .
Even then , there has been no proper participation by the Industrial and Business Sector towards development of National Economy and the vested Social Responsibility to Nation & Co Citizen [may be under Article 39 C ] while the Government was given the chance of CSR Tax application inevitably .
4. Now , though the General Public of the Country ambitiously awaiting the Curb of Currency of Rs.100 and above to arrest the issue of Corruption and Creation of increasing Mountains of Black Money and Concealed Wealth that has been challenging the Citizen of the Nation , the GOI had now introduced ofcourse announced at a pre programmed date only for 500 and 1000 Currency though 100 Currency also abnormally binded with Fake and Counterfeit Notes .
5. Even this program is also diversified by the Black Money Businessmen and Concealed Wealth Stalwarts by DISCOUNTING THEIR 500 & 1000 NOTES AT 30 TO 40% ; the Agents [Middlemen] Sharing 10% for them , opted offering 20 to 30% to their Supporting Market Agencies , Servicemen and many poor and jobless too opted for a Share in this Easy Earning through Currency .
Astonishingly, there had been at many places , bulk Exchange of this Currency through illicit options and nexus with the Businessmen, Banks, and Security thus making the issue diluted and unidentified the real Black Money Holders .
Therefore , strict Law Binding and Stringent application of Laws are absolutely necessary at the interest of the Nation and the very Citizen who sacrified their lives for AN INDEPENDENT RULE that was achieved in the midnight of 14 August 1947 . more