Day Traders Lounge.

[bpr]

People think twice before spending big amounts, especially investment in real estate or stock market,it will also affect business badly,

If government is really interested in blocking black money, try the big fishes which are in the lists already

So let it be let the house market crash I don't care ...Supply and demand is cure for everything .. let the market do its thing ...
We need to get rid of black money at any cost.
If black money is gone the govt might in turn reduce taxes for house registration right now the govt is not in control.

When I bought my flat My builder said pay 1/4th by cash and save some money in registration I politely refused. In lie of that they save ton of taxes from their side.
This black money thing needs to go. if u buy in black ur house is less money officially and when u sell ur house u need to find a person who can pay in black otherwise u pay more tax it is a vicious cycle.

The concept that they need to go after big fishes is so wrong. Why double standard. why not same treatment for everybody. In fact when you implement in mass level the big fishes will be caught so easily.

 

[cloudTrader]

Since independence, our government has established 70 'commissions' of experts to get rid of black money.... Even if the intention was 50% genuine, corrupt people would be jailed and behind bars... But corruption is only increasing and every corrupt individual knows, (irrespective of evidence, or being caught red handed), nothing will happen other than a rap on the knuckles, and that they can loot the people / country and go scot free...

Two days back I had posted a link, of the Brother In Law of Goa Chief Minister (BJP CM) Dilip Malvakar, who was allegedly caught red-handed while accepting a bribe by the officials of anti-Corruption bureau. He is now reinstated back in his job - inspite of evidence in camera!!! The Chief Minister Laxmikant Parsekar says, that 'Law will take it's own course' Which really means, that the evidence will be destroyed, officers transferred, case postponed and weakened, and after 15-20 years when the case is decided, everyone would have forgotten about it....

So BJP/Congress and all other political parties are brother in arms... They will make the right noise, speak against corruption, and work up the social media... and sadly for us, it will be business as usual for them....

http://timesofindia.indiatimes.com/...M-Laxmikant-Parsekar/articleshow/53016390.cms

Very well said.

Double standards have always been the prerogative of the govts. against the common people and the most affected has always been the salaried class as they are the easiest to target.

Even if this rule is applied , the rule breakers will find their paths of doing what they have been doing. There are ample rules in law books about money laundering but the Banks managed to send to foreign countries more than 8000 crores without any trace, how, because the rules were bypassed. The case came out in media , news flashes were there but has any action been taken, everything is pending still and it will be in that state nearly forever.

Those who are living in a dream world that rules are going to change the scenario are getting ready for shocks as they are in denial mode as of now. Land are being grabbed from farmers in the name of development but after few years what we see is that builders start developing houses there, as very silently land use conditions are changed. Who are these builders, kin & kith of the affluent political masters.

When such level of commitment for corruption is present in the circles of power itself then rules are best to be made for reading.

Those who are themselves swimming in the sea of corruption are making rules for others , the cruelest of double standards.

 

[TradeJoker]

if u buy in black ur house is less money officially and when u sell ur house u need to find a person who can pay in black .

But the fact is it's difficult find white money buyers,especially in real estate market

 

[DSM]

A lot of black money is parked in real estate market. It belongs most to powerful politicians and businessmen, who advance money to builders to finance projects of hundreds or thousands of crores.... It is a known fact in reality circles in Mumbai that one prominent 'yoga guru' who has made lots of noise for eradicating black money has himself placed Rs. 200 crores in cash to a Mumbai based builder...

But the fact is it's difficult find white money buyers,especially in real estate market

 

[Rish]

A lot of black money is parked in real estate market. It belongs most to powerful politicians and businessmen, who advance money to builders to finance projects of hundreds or thousands of crores.... It is a known fact in reality circles in Mumbai that one prominent 'yoga guru' who has made lots of noise for eradicating black money has himself placed Rs. 200 crores in cash to a Mumbai based builder...

Elevated to Corporate Yoga Guru...joined in the Main Stream...

 

[cloudTrader]

Horrifying Deadly attack on France .. Really painful

http://www.telegraph.co.uk/news/2016/07/15/nice-terror-attack-driver-who-killed-84-on-french-riviera-was-cr/

 

[DSM]

Just felt numb after seeing the headline, after which I stopped reading or following the news...

Horrifying Deadly attack on France .. Really painful

http://www.telegraph.co.uk/news/2016/07/15/nice-terror-attack-driver-who-killed-84-on-french-riviera-was-cr/

 

[candle]

Ridiculous new rules

http://zeenews.india.com/business/news/economy/black-money-ban-cash-transactions-of-above-rs-3-lakh-restrict-cash-holding-limit-to-rs-15-lakh-recommends-sit_1907250.html

 

[DSM]

How is black money created?


By wily politicians…. For e.g In Mumbai, to go and drink in a bar, an ‘excise permit’ is required. The permit itself cost Rs. 10. But this is the process :

1. Go to any court office or any place where you can purchase a Rs 10 court stamp fee.
2. Go to any permit issuing office e.g Bandra, Andheri, Malad etc.
3. Get and fill the application form with your name, date of birth, age, occupation, and address etc.
4. Stick the Rs. 10 court fee stamp on the application form.
5. Hand the clerk the application form, with your photographs, Photo id and Address proof etc.
6. Get the excise permit. (Lifetime permit cost Rs. 1,000)

But here is the catch. Why did the govt. introduce Rs. 10 for 1 time excise permit and Rs. 1,000 for lifetime? Simply - It is not because they want only people with permit to drink, and the permit cost a paltry Rs. 10, or 1,000 for a lifetime…. The idea is that police, or excise dept. could now go and raid a bar or a restaurant serving liquor and harass the hotelier or the bar owner, who to avoid a nuisance to his customers is willing to pay hafta to the police or excise officers, a cut of which end up with the politicians…

Another example would be to bring in land development regulation. FSI to be limited to 1.33 or 2 (pick up any number) does not matter. Now land being a premium, the lower the FSI, the lower the area that can be developed to construct a building… But here is the catch – declare FSI of 4, or 5 or higher as ‘slum development etc’ So now a builder who could build 100 flats can now build 250 or 300 on the same area…. But to get the area notified as SRA etc, tens or hundreds of crores eof rupees change hands. And this money goes into the hands of politicians…. Think of licences and permits to open a restaurant, medical or engineering college, hospital, a chemical factory etc. etc. Right from electricity & water dept, police, municipality officials, excise, sales tax inspectors, local politicians, labour inspectors, income tax officials, etc etc. get into the act …

These are just a very small example of ridiculous and opaque laws that are created to generate black money in the system… So instead of aiding business, politicians and bureaucrats throw in hurdles in path of business so that they can extract their pound of flesh… Rules are created to interfere rather than help business and economy….

Things are changing but slowly. Real change will come when there is openness and transparency and ease of doing business. But as long as our politics and politicians depend upon the very same black money to stand for elections, nothing will change, no matter what laws are passed and how many committees are established for the purpose....

 

[TradeJoker]

Also, cash withdrawal of more than Rs 3 lakh from any bank account in a day should consider as a suspicious activity and the concerned bank should report it to Financial Intelligence Unit (FIU) & the concerned Income-tax Department,