This is a user generated content for MyStory, a YourStory initiative to enable its community to contribute and have their voices heard. The views and writings here reflect that of the author and not of YourStory.

Black Money Recovery TIP - URGENT

Sunday November 13, 2016,

3 min Read

Respected Shri Arun JaiteyJi and Honourable PM Modiji ,

Rather than releasing 2000, I would request you to release 100 because this 2000 is of no use as of now. No one has change to return and we need 100 rupee notes more for our daily needs.

In continuation to my earlier EMail, I have got few more suggestions which I would like to share with you.

Black Money is in 4 Forms as per my knowlege:

1) Cash Black Money --- This you have taken care.

2) Jewellery - Silver, Gold, Diamond, etc.

3) Immovable Property

4) Swiss Bank.

The only way to cease Black money mentioned in point 2 and 3 is by introducing a self declaration of Wealth. We need open a website where people will do this.

The form should be designed in such a way that people should be able to declare that once they receive the OTP in SMS so that no one plays with this and no duplicacy of data.

When the user opens website, he should enter UID, PAN Card, Mobile # and once that is filled, he should get the OTP after which the form should open. Once the form is opened, it should have the list of drop down in one column about the asset and second column should have the value. Let the user choose the assets he has and the value based on his purchase price. We need to make it mandatory only for the assets which has value of more than 10000. Even if the user is making some mistakes in value, we still have the data of the assets. We can use our CSC Centers to help the citizens to fill the data keeping privacy in mind.

Now, if the user has filled all the data, then we can do the analysis and see who has not paid the tax. Accordingly, we can send them notice to pay the tax within 60 Days as per the Tax Calculation. This is complicated, but not impossible.

For every asset type, we must have some kind of mapping and identification, if possible. For example, every flat/room has an electricity meter number, property number. If these flats are not declared, we can get these data from the Electricity company, Local Registrar and see how many properties are not declared and we can issue the notice to cease.

Similarly, for open plots, we can track.

About Gold and Jewellery, I am thinking how can we can track that. Give me sometime and I will surely come up with an idea. We can tell them that the Tax what they have to pay can be paid by Gold as well. By doing this, I think they will even declare some golds with which they can pay tax. Rest we can think later how to recover the balance gold.

About Swiss Bank, we can surely take action in coordination with the swiss bank and plan an action on how to cease this as well so that we can bring those amount to our country.

**** Stop printing this high denomination notes of 2000. If atall required, please print with an expiry date and very limited number. Because higher denomination notes will always help in Black Money.

**** Stop printing currency and force people to use only Digital currency. This will surely stop the FORGERY, CORRUPTION and BLACK MONEY. It will act like trimurti. We need to build the infrastructure, but with JIO in place, this is the right time to explore and become the world's first currency less country.

Thanks and Regards,

Jagdeep Yadav