Solutions to address Black Money menace
1.
Creation of Black Money in India is woven in the people for last half century when the tax rates very high. The tradition is more or continued due to different requirements of Political-bureaucratic levels and without that there will be no movement, i.e; it starts from birth to death of a person.
This can not be eliminated in one stroke. For this ethical lessons should be started from primary school level to nurse the children ethically sound, so in future after 25 years there will be change.
2.
At present the CIB information generated by Income tax department for clarification and get explanation and information but some time this is used to collect out of pocket money ranging up to five figures.
The CIB information should be sent directly to the assesse on-line and ask for detail explanation/clarification, if any. If no reply received or reply improper then and thereafter take necessary steps for scrutiny in particular aspect. This will reduce requirement of black money to satisfy some one.
3.
Invite people opinion where the use of black money require. Thereafter short list and find out the way and procedure to reduce it.
4.
Average Indian even works for whole his/her life will not be able to create the wealth, whereas in contrast some politically influential as well as connected can create wealth in crores within a short span of time. Study, analyse and take corrective steps. more
Creation of Black Money in India is woven in the people for last half century when the tax rates very high. The tradition is more or continued due to different requirements of Political-bureaucratic levels and without that there will be no movement, i.e; it starts from birth to death of a person.
This can not be eliminated in one stroke. For this ethical lessons should be started from primary school level to nurse the children ethically sound, so in future after 25 years there will be change.
2.
At present the CIB information generated by Income tax department for clarification and get explanation and information but some time this is used to collect out of pocket money ranging up to five figures.
The CIB information should be sent directly to the assesse on-line and ask for detail explanation/clarification, if any. If no reply received or reply improper then and thereafter take necessary steps for scrutiny in particular aspect. This will reduce requirement of black money to satisfy some one.
3.
Invite people opinion where the use of black money require. Thereafter short list and find out the way and procedure to reduce it.
4.
Average Indian even works for whole his/her life will not be able to create the wealth, whereas in contrast some politically influential as well as connected can create wealth in crores within a short span of time. Study, analyse and take corrective steps. more
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TRUE AND FAIR MATHODS ARE SUGGESTED BY C. A. SRI SHANTILAL GANDHI . INCOME TAX, SALES TAX, EXCISE DUTY , REGISTRATION VLUATION , FEE & CHARGES , ELIMINATION OF PAYMENT DETAILS IN REGISTERED SALE DEEDS , FINANCIAL INSTITUTIONS' CONSIDERATION OF AGREEMENT VALUE AND OPEN MARKET VALUE FOR LENDING ON PROPERTIES ; BESIDES SET-OFF OF LAND & PROPERTY SEILING INCLUDING A CHECK ON REAL ESTATE ONLY LAND LAYOUTS KEEPING LANDS IDLE ; ELIMINATING LAND TAXES ; NON-IMPLEMENTATION OF ACUTE WEALTH TAX LIMITS ; BESIDES NON ENFOCEMENT OF VARIOUS CRIMINAL LAWS & FIT POLICING ; ===== ALL THESE ARE THE VAST SPREAD BOUNDARIES ALLOWED FOR MAINTAINANCE OF BLACK MONEY ===== A SUM OF WHICH HAD BEEN FUNDED FOR ELECTION CAMPAIGNING AND PURCHASE OF VOTES AT THE TIME OF ELECTIONS . THIS IS THE VERY REASON , NONE COULD EVEN THINK OF ARRESTING CORRUPTION & BLACK MONEY SINCE DECADES THOUGH ALL THE GOVERNING BODIES OF OUR CONSTITUTION KNOW ABOUT THE PREVALENCE AND PRACTICE OF CORRUPTION AND BLACK MONEY . NO-BODY AND NO BODY WILL CO-OPERATE OR CO-ORDINATE TO PUT A STOP ON CORRUPTION AND BLACK MONEY POSSIBILITIES , WAYS AND MEANS . THE CHARTERED ACCOUNTANTS OF INDIA AND THE INDIAN COST AND WORKS ACCOUNTANTS , INDIAN CHARTERED ENGINEERS BEING THE CHECKING , QUALIFYING AND COST & PROFIT IMPROVING AUTHORITIES ARE NOW TO STEP AHEAD FROM OUR SOCIETY TO UP-LIFT SUCH IN POLICE , LAW & JUSTICE AND ULTIMATELY THE RULING SECTOR . I HAD THREE TIMES REQUESTED WHEN-EVER A C. A. JOINED OUR CIRCLES FOR THE POSIBILITIES OF RE-IMPLEMENTING COMPLETE / COMPREHENSIVE AUDIT INCLUDING QUANTITATIVE ANALYSIS AT-LEAST TO ARREST CORRUPTION AND BLACK MONEY IN MANUFACTURE , MARKETING AND BUSINESS SECTOR . IN THIS CONNECTION, I ONCE AGAIN RE-ITERATE THAT FINALLY THE SUPREME COURT OF INDIA TAKEN THE C. A. G. REPORT IN FINALISING THE LOSSES WENT ON COAL ALLOTMENTS ISSUE. more
Apr 19
