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  • Category: Karnataka

    Many ways to hide our money.

    As government has declared about demonetization for curbing black money, the corrupt people who are having black money try to find out one or the other way to escape. Latest news I watched in media is that, lot of gold is being purchased by many customers and by their survey they are mentioning that the corrupt people are investing their black money to gold.
    I don't no what will be next step taken by the government for gold and other assets. By all this activities I think how much black money is there in our country.
  • #586179
    It is hundreds and hundreds of years since courts, police and law and punishment devolved. But still crimes are committed and criminals caught and punished. Very rarely criminals never get caught and they escape and hide safely.
    The same is with black money also. Black money is also a crime against law. It is avoidance of tax at one stage and ill gotten wealth at otherwise. Many are caught and punished and/or subjected to tax and penalties. But still many manage to escape. However the dynamic state cannot sit in rest, but device dynamic ways to bring the guilty to book.

    The present currency withdrawal step has definitely made more awareness among the general people about black money and one or few of its sources and holding. So it will be a little more easier to bring the guilty to book. Moreover those in the fringes will have a rethink that declaring honestly and paying due taxes is better and easier than hiding and be in tension of getting caught and exposed after raid.

  • #586197
    Black money is held in three forms. Cash, gold and property. Modi has taken the first step to get the black cash. His next move will be to get the black gold, and finally the black property. The ball has been set to roll to play the three-dimensional role. Wait and watch Modi.
    No life without Sun

  • #586209
    Taking into consideration the penetration of corruption at almost all levels, it can be said that only those people are honest who don't have a chance or facility to become corrupt. Thus corruption has become a part and parcel of life. Most of us are corrupt intentionally or unintentionally as we are a part of the prevailing system. People have no nationalistic sentiments as they tend to eschew payment of taxes.

    Exerting too much pressure on corrupt people is likely to cause change of the ruling Government.

    Let us encourage each other in sharing knowledge.

  • #586212
    In fact every one of us are earning black money. That means the money which is not accounted for and thus placed for future requirement which may be through cash in hand, cash at bank, cash in lockers, by purchasing gold or diamond, investing in chit fund and lastly investing in shares and lands. By not revealing every transaction we do, one way or the other we are all earning black money on daily basis but that was minimal. But the government was concerned with those tax evaders who earn a lot and yet conceal the income as if nothing is earned. In Hyderabad big whole sale market owners have the habit of raising bills in 10s place. For example if you purchased good worth rupees 10,000, instead of mentioning 10,000 in the bill, they would write the bill as 100.00. That means they are concealing the sale of 9,900 away from the government and that tax is avoided. Mind it even this transaction is made if the customer insists for a bill other wise even that 100 rupees as tax wont go to the government.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

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