Rahul Mehta Gandhinagar LsCandidate
How old notes were converted into gold using a terminally ill cancer person aged 65 years, who is about to die in 3-4 months !!!
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The Rich guy found a terminally ill patient (a distant relative) who is now going to die in 4 months to 8 months. His is absolute pauper, and he and his wife and 2 grown up children live in rent in chawl.
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(1) The poor had all IDs - pan card etc
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(2) The rich open his bank account in SAME branch in which a gold seller had an account
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(3) The rich took poor's cheque book and got chques signed by poor, and asked poor to write "Pay to Gold seller's name" and amount and all that
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(4) Then rich took poor to bank, deposited Rs 20 lakh in his account , and immediately transferred it to account of gold seller , and took his gold!!!
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(5) Now in oct-2017, income tax dept will send notice to the poor (who would be dead in six months anyway) asking him to pay taxes on presumed income of Rs 10 lakhs !!! Tax GoI will collect = Rs 0
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(6) He has NO property to attach !!!
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(7) The Rich gave some 1 lakh rupees of Rs 500 notes extra to Poor and got it depsoited in account of his wife !!!
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(8) GoI will collect tax of some Rs 40000 on gold sale of Rs 20 lakhs !!
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(9) IOW, using penniless guys who are going to die soon, and by opening his account in same brach as gold seller, CAs are converting old notes into gold with almost no costs !!!
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SOLUTION?
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I have written solution and sent it to revenue Secretary. I dont hope to get any reply.
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Now I am in dilemma - if I disclose solution, then perpetretors can circumvent it in few days .
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If I dont get reply, I will write solution here and then it will lose value !!! So be it.