Nirmala Sitharamanar plans to increase revenue all the way through income tax collection, GST, customs duties. Government companies are not ready to buy due to sluggish market and no buyers. In such a situation, the Government of India can start the Golden Pardon Scheme. Which is like reviving an old plan. Modi may announce the plan soon.
Gold and silver purchased from black money can be converted into white money.
Will declare unaccounted collections and ask to pay the tax along with the fine. In 2015, the world’s largest volume of gold was 25,000 tons.
People did not want to invest in gold jewelery as they feared being punished by the tax authorities. The government then asked taxpayers to declare the cash, but conditions were so dire that hardly anyone came forward. The Modi government’s plan failed completely.
Gold bond issue price fixed at Rs 5,334 per gram.https://t.co/OzOTPfx12P
— TIMES NOW (@TimesNow) August 1, 2020
New gold schemes are being launched for Indians in an effort to curb tax evasion and reduce its dependence on imports. The government wants people to disclose their unaccounted gold reserves to the authorities. It pays less taxes and less fines. The apex court ruled that if convicted and convicted of an offense under Indian law, it cannot claim full pardon. Thus black money cannot come out in the glow of gold. There may be obstacles.
Gold Price Performance vs Fiat Currencies PAST 6 MONTHS:
🇺🇸 = +24%
🇨🇦 = +25%
🇪🇺 = +16%
🇧🇷 = +51%
🇨🇳 = +25%
🇷🇺 = +43%
🇹🇷 = +44%
🇲🇽 = +45%
— Gold Telegraph ✪ (@GoldTelegraph_) July 29, 2020