Rahul Mehta Gandhinagar LsCandidate
(1) How CAs are converting Rs 500 note into gold !!! Using someone who is likely to die soon !!! Yield per person - lakhs per person !!!
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(2) I spoke to 3 auto rickshaw people --- their revenues in past 2 days is below 50% of normal !!!
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(3) Bank staff is fooling illiterate old poor by taking their 100% white legal cash, and putting a dummy stamp instead of bank stamp and devoring their money. Banks are refusing instant passbook updates !!!
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(4) Foreigners will benefit most from temporary fall in land prices . And land prices will rise again. Their incomes will rise, but tax on foreiners is 0% (Fiji route) and 8% (Mauiritius route). So Indian company owners will be royally hit.
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(pls see my previous posts in past 3 days on how CAs are laundering money)
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(1) How CAs are converting Rs 500 note into gold !!!
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Consider a Rich man with Rs 1 crore of cash.
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Consider a Poor man with terminal illness who is going to die in say 6 months
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Rich deposits Rs 45000 cash on 30 days in Poor's account
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Total deposits = Rs 45000 * 30 = Rs 13.50 lakhs
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Poor makes RTGS payment to gold seller
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Gold seller gives gold to Rich
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Tax payable on the poor = Rs 400,000
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But if man dies in few months then tax payable = rs 0 !!!
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In fact one can open several accounts of dying man, and deposit lakhs and lakhs of rupees.
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tax payable on cash deposit of Rs 10 crore = Rs 4 crore !!
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But if man dies before mar-2017, then tax payable = Rs 0 !!
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(2) Business is down big time. Even small people like autorickshaw people say that their revenue in past 3 days has been below 50%. I am not sure if lost white income will get made up anytime soon. lets see. We will know part by 31-dec-2016, and rest my march-2017
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(3) The way most poor illiterate deposit cash is --- they will give cash and then get passbook updated immidiately. Today, bank staff is saying that passbook printing isnt working. So in some 1% to 2% cases, when depsoitors is some poor old illiterate, the bank staff puts dummy stamp, and asks them to come after 1 week for passbook updates !!! The dummy stamp has no legal value !!
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(4) There will be tempapry fall in land price, and biggest beneficiaries will be Fiji / Mauritius companies,. They will buy land at cheap price now and later sell at much higher prices. Tax payable on Fiji companies's income = 0% (after during some additional transactions). Tax payable on Mauritius banks' profits = 7.5% only !!! Truely, a master stroke by international banking elitemen !!!