Funds & Finance need strict application
1.In 1973 , Country Faced Financial Recession and in a midnight in August , all Lending Limits were Sealed to the Balances held as on that day . Many Industries and Businesses lost their support ranging 20% to 80% and had to adjust with .
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
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
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It may be a political suicide for this term, but for the next term of Modi Govt., how do we make everyone fill out simple electronic tax forms and majority pay small amount of tax? When I hear that only a few percent of the population pay income tax,it seems unbelievable. We need to straighten that up. at least 70% of the population should pay a small amount of income tax. Just passing bills is not enough, the mechanism of implementation and success evaluation should be a major part of the complete solution. more
Dec 07
The plans , programs and actions of this NDA Government are being projected with progressive Economy Development System as opted by sri Paulose Purappuram in his Post ,; Some States are stepping on this line but , the WHOLE ISSUE OF STATES EMPOWERMENT IN VARIOUS SECTORS OF ECONOMIC AND PUBLIC WELFARE INCLUDING THE VERY ISSUE OF ARRESTING CORRUPTION MEANS , WAYS AND SOURCES BESIDES PLANTING INTEGRITY IN THE FIELD OF INSPECTORATES AND LAW & ORDER IS THE ONLY route , Map , and , governance that is to be established reinstating National Interest and Public Welfare as envisaged in the prominent articles of our Constitution which had been diversified from this goal . more
Dec 07
GOI to Immediately Amend the Laws and : [a] Limit Cash Transactions on goods to Rs.10,000/- [b] Limit Cash Payments by any to any to Rs.10,000/- [c] Mention Bank through Payment Particulars in all Property Transactions fully in detail for Registration amending the sections so to allow the Open Market Rate Payments while restricting the Stamp Duty only to the Government Market Rate that is declared as in force . [d] Compulsory Bill issue System by every Dealer through Electronic Machinery Categorizing those having Daily Turnover of above Rs.3,000/- [e] Fast Supply the Swiping Machines and Teller Paid Cards just like the Cellphone Providers Recharge the Money . This System will replace the necessity and usage of Currency from Rs.10 to any Value . 5. All Car , Van , Truck , Lorry , Bus , Cab Owners , are to be connected with Aadhar Card wherever issued , latest Voter Card wherever Aadhar Card still to be issued , identifying from the Pan Card . 6. Plan Check on all Sales Tax Certificate Holding Shops . 7. Try for linking the Bank Accounts with Aadhar Card wherever issued and , Latest Voter Card wherever Aadhar Card still to be issued. 8. Condition the linkage of Aadhar Card , if not issued , latest Voter Card mention in all Bills of Fertilizers & Pesticides which shall be annexed with the Ownership Document of Cultivable Land [ Double Crop / Single Crop / Seasonal Crop ] 9. Condition that No Educational Institution and No Healthcare Institutions and Hospitals are exempted from the application of POINT a & b . more
Dec 06
1. Savings in Banks and Deposits in any , shall carry reasonable rate of interest [ Even Categorized rate ] since the Profit/gain if Money is elsewhere in the Bank is much more even a part at any time is lost due to any wrong business . 2. Lending in unproductive Sector promote inadequacy both in Government responsibility AND , Citizen Economy for real Life Lead as we are already working for its correction . 3. Compulsory Categorization in Lending Norms and rate of interest with the Object of Product Sufficiency is necessary to curtail dependence on bought-outs/ imports from others . These THREE are necessary even for the future please . more
Dec 06
