Contact us   Feedback   Annual Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

THOUGHTS ON PRESENT CURRENCY CRISES MANAGEMENT

Service Tax - By: - Dr. Sanjiv Agarwal - Dated:- 23-11-2016 Last Replied Date:- 24-11-2016 - Demonetization of high value currency (Rs. 500 and ₹ 1000 notes) w.e.f. midnight of 8-9 November, 2016 is now a fortnight old decision, aftereffect of which is still worrisome and concerning. While we all agree that this surgical treatment is a welcome step but like in any surgery, post operative care is crucial, so is with this one. The ground reality appears to be full of gaps and unpreparedness .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

economic slowdown, first in sales and then in manufacture which will directly hit production, consumption, exports and everything related to economy - savings, wages, unemployment, investment and so on. The economic growth itself will take a major hit in this quarter and atleast next two quarters. GST may also have an adverse impact initially. Here are some ideas of how the old currency be allowed to be used by citizens (not by people with disproportionate / unaccounted currency) for next one m .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ctions and ensure higher tax returns for FY 2016-17. Allow cash deposits in PPF accounts till 30 December, 2016 Allow school / college / education fees paid by parents for their wards in cash till 30 December, 2016 irrespective of public or private schools / colleges / universities Allow payment of premium in cash for on-going LIC policies on self and NPS scheme till 30 December, 2016 Allow cash payment upto a limit of ₹ 2.50 lakh for purchase of solar equipments Allow local taxes (e.g. ho .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

banking outlets are not enough to dispense cash or exchange demonetized notes, Government may also use roadways buses throughout the country as mobile units for rural areas and villages with 1-2 security personnel for small sums (say, upto ₹ 2000 per person). This may also be done by using school buses on Saturday - Sunday. However for this, supply and distribution of currency will have to ensured which does not seem to be an issue with RBI clamming that there is no shortage of legal tend .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

s of demonetization lies with the Government itself by bringing normally as fast as possible. Various agencies have already expressed their view on the economic growth with one brokerage even scaling it down to 3.5%. - Reply By RAJESH SANGHVI - The Reply = I think in this entire exercise of Black Money ( sadly only Indian and NOT foreign .. and why I dont know ?? ) the root cause of generation is not touched upon in a surgical manner' and only the after effects have been attended to by way o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ply any tax. This WHY is not attended to ??. This requires a comprehensive study and complete overhaul. If Demonetisation is surgical & drastic for the common person , who are facing wealth erosion of almost about 30% today ( in some form or the other ) , Can there be something as drastic as declaring corruption as War on the nation equivalent to Sec 121 of the IPC having death or life imprisonment. This may sound dramatic or surgical but these are just ignored. Does the average man indulge .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

siness , many industries/trades will collapse in the times to come. I see the problem in 3 parts. ONE - current chaos and mischief happening across India. I would say with a pinch of salt that this is still manageable. SECOND : In the times to come , be it 2 to 5 years or may be more, many trades/industries, who have been typically cash centric for centuries will either die off or find extremely difficult to function. Many people may loose their liveilhood/jobs and this can fuel further chaos an .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version