Saturday, 19 November 2016

Anna Hazare backs PM Modi’s note ban, says ”for gain you need to go through pain”

Earlier too, Anna appreciated the move and said that it could very well lead to the beginning of a 'new Indian marching towards a corruption-free society'.

Demonetisation, Anna Hazare, Narendra Modi, Black Money, Social Activist, Anna on Note Ban, Cash Crisis, BJP, Corruption-free India, electoral reforms
Earlier too, Anna appreciated the move and said that it could very well lead to the beginning of a ‘new Indian marching towards a corruption-free society’. (Source: Express Photo)


In a recent interaction with the media, anti-corruption activist Anna Hazare has recently said that those who are opposing the demonetisation move are probably the one with black money. He also said that majority of the people in the country are happy with government’s revolutionary initiative to curb corruption and black money. He also said that there is bound to be inconvenience for sometime until the circulation of new currency notes get back to normal.
He backed PM Narendra Modi’s demonetisation of Rs 500 and Rs 1,000 currency notes by saying, “To gain, you need to go through pain.” Anna also called the demonetisation drive a historic decision made by Modi government.
Earlier too, Anna appreciated the move and said that it could very well lead to the beginning of a ‘new Indian marching towards a corruption-free society’. The 79-years old social activists also suggested the government for its next move by seeking electoral reforms to check black money in the poll process.
Also earlier while speaking to The Indian Express, Anna said that the decision to ban the circulation of Rs 500 and Rs 1000 notes is the first step, which would help in wiping out black money and putting brakes on illegal financial operations to the terror organisations. The decision will also help in tackling the fake currency in circulation.
However, Anna has also warned the government for its decision to issue new currency notes of Rs 2,000 denomination as it could be that one loophole to generate black money in the coming future.
The corruption crusader, from the very beginning, has raised demands for discontinuing the higher denomination notes as smaller denominations force the sections, who always dodge the system, to become more answerable towards their financial records and earnings.


In an interview, well-known social activist and Gandhian, Anna Hazare hailed Prime Minister Narendra Modi as a clean leader and said that he should make the nation free from all sorts of corruption. Anti-corruption crusader Anna Hazare on Thursday lauded the Centre for its “bold and revolutionary” decision of demonetising Rs 500 and Rs 1,000 currency notes, saying it will curb black money.
“This revolutionary step will curb black money, corruption and terrorism (funding) to a large extent,” Hazare told PTI.
“The previous governments never showed the will to crackdown on black money. The present dispensation has taken a bold step and this will strengthen the democracy,” he said.Pointing out “discrepencies” in funding of political parties, the veteran social activist said the next course of action for the government should be to “clean up” the election process.
“Now the government should accept the challenge to eliminate black money from the poll process and politics as well by bringing in large electoral reforms,” he said, ahead of the Assembly elections scheduled in some states next year.
“PM Modi is clean leader and he is a NON CORRUPT LEADER. Steps like electoral reforms, decentralisation of power should be taken. Corruption had reached a zenith during the Congress rule which has witnessed a perceptible change since Narendra Modi’s election. The nation has to be rid of the malice of corruption.”.
Hazare advised the Modi government by saying, “My advice to the government is to restore the balance between industrial and agricultural development to solve the many problems facing the nation”

10 ways to Convert Black Money to White



10 Method to Convert Black Money to White




Image result for black money change white



Bogus Loan Entry
Popular method people use to convert black money to white is by showing bogus loan entry. Modus operandi under this case will be people give black money to friend or relative and take a cheque from them. This is kind of bogus loan entry to convert black money to white.
In some cases people give repayment of this loan by giving back cheque. People doing this must understand that Income tax department is watching every transaction and tax payer have to prove genuineness of every transaction.
Formulation of Trust & doing Charity
Another popular way used by people to convert black money to white is by formulating trust for social cause. They make executive bodies of own people in trust sometimes illiterate people like driver cook etc. They donate black money to this trust as charity to convert black money.
On paper it is charity but off the shelf it is conversion of black money to white.
Showing Income as Agriculture Income
Another popular way of converting black money in to white is by showing income as agriculture income. In order to show income as agriculture income you must possess land and it must be used for agriculture purpose like plantation, garden nursery etc.
However there are various conditions you need to satisfy in order to claim agriculture income.
Showing Cash Income from Profession
Another popular way to convert black money to white is by showing income in cash. Income from tuition, professional fees or commission is shown as cash by many tax payers it is nothing but converting black money in white. 
Sale of personal belonging like Jewelry
Go to known jeweler and give him all black money you want to convert. He will give you cheque for the same amount. He will also give you purchase bill showing you sold your personal Jewelry to him. By this way your Black money is converted to white and you need not to pay capital gain tax even.
Converting Black money by Investment
Another method people use to convert black money to white is by making investment in cash.
People purchase insurance policy and pay premium in cash. For example if insurance premium is 50000 Rs/- payable quarterly, than people pay first premium via cheque and rest all premium in cash. This is most simple and popular way to convert black money in white.
Getting Black money as gift
Another popular way to convert black money to white is by getting gift from relative. Modus operandi is simple you have black money and your relative has the same amount of white money. Your relative issues cheque to you as gift and you will give your black money to him/her.
Depositing Black Money on name of Family members
Another popular method for converting black money to white is to open bank account on each and every individual family member. Deposit black money on the name of every family member to convert it in white.
By Real Estate
Real estate is sector where majority of black money is parked. People use real estate deals to convert black money to white. It is observed that people do fake real estate deal exchange money and cancel these deals due to non-payment of money.
By Declaring Black Money
Best method for converting black money to white as per me is by declaring this money to IT authorities and paying tax on this money to convert it in white.
Disclaimer –
I don’t recommend readers to follow any of these methods for black money conversion. This article is just for exposing loop holes of our system. So, that RBI and the government can take appropriate action by formulating strict rules to remove black money from India. I am against black money and black money generation ideas.
If I have missed any other methods which people use to convert their black money into white money I request you to share it in comment section.




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