If you have gold without bill then be careful!
Wednesday - October 30, 2019 4:15 pm ,
Category : WTN SPECIAL
Modi Government can again hit hard on black money
It may be necessary to inform the government if having gold more than the limit!
OCT 30 (WTN) - Prime Minister Narendra Modi is known for taking tough decisions for the benefit of the country. Be it demonetization or the abrogation of Article 370 from the state of Jammu and Kashmir, Prime Minister Modi has proved that he is not going to back down from taking any kind of decision for the sake of the country. In one of his speeches, Prime Minister Modi had clearly said that he does not like to feed problems. Talk about demonetization, then the decision of demonetization taken by the Modi Government is considered to be quite a historic and tough decision.
The Modi Government claimed that black money would be detected by demonetization and this would improve the monetary system of the country. The success and demise of demonetization have their own claims, but the decision of demonetization proves that the Prime Minister will continue to attack the black money that is hollowing out the country's economy from time to time. And for this, he can take any big and tough step at any time. In this context, it has been said that the Modi Government is going to take a big step for the country's economy soon.
According to the information received from the media, the Modi Government can introduce a special scheme to curb those who buy gold from black money. According to the information, like the Amnesty Scheme of Income Tax, the Modi Government can launch the Amnesty Scheme for gold too. Under this scheme, if there is more than a fixed quantity of gold without the receipt, it will have to be informed and the price of the gold will have to be reported to the government.
For your information, let us know that to determine the price of gold under this Amnesty scheme, a certificate will have to be taken from the valuation center. Under this scheme, all the gold without a receipt will be disclosed; a certain amount of tax will have to be paid on that gold. This ambitious scheme of the government will be opened only for a fixed time frame. At the same time, after the scheme is over if the gold is found more than the prescribed quantity, a heavy penalty will have to be paid. At the same time, according to the information received from sources, there may be special announcements to use the gold deposited with the temple and the trust as a productive investment.
According to the information received from the media, along with the Amnesty scheme, there may be announcements to promote gold as an asset class. Several important changes can be made under this scheme to make the Sovereign Gold Bond Scheme attractive. At the same time, the option of mortgaging the Sovereign Gold Bond Certificate can also be given to the people.
Where it is also said the Modi Government can also announce the creation of a gold board. This is because the government wants to use gold as a productive investment instead of keeping it as a deposit in the houses. As you know, gold is used as the largest consumption of jewelry in India in the world. According to the information, India consumes about 849 metric tonnes of gold every year.
In India, people like to invest in gold the most. According to the information, millions of tonnes of gold are kept in homes in India. It is the intention of the Modi Government that it is important to invest this gold kept in homes in the right way, which will give a boost to the country's economy. This plan is said to get approval from the cabinet soon.
If Modi Government takes any such decision on gold, then it will also be considered a historic decision like demonetization. As we told you earlier that gold is consumed in tons every year in India, in such a situation, the Modi Government wants to use this gold as a productive investment.
But this decision of the Modi Government may have to face a lot of trouble for those who have gold purchased from black money or who do not have the gold purchase receipt. That is it is clear that once again the Modi Government is going to attack black money again.
OCT 30 (WTN) - Prime Minister Narendra Modi is known for taking tough decisions for the benefit of the country. Be it demonetization or the abrogation of Article 370 from the state of Jammu and Kashmir, Prime Minister Modi has proved that he is not going to back down from taking any kind of decision for the sake of the country. In one of his speeches, Prime Minister Modi had clearly said that he does not like to feed problems. Talk about demonetization, then the decision of demonetization taken by the Modi Government is considered to be quite a historic and tough decision.
The Modi Government claimed that black money would be detected by demonetization and this would improve the monetary system of the country. The success and demise of demonetization have their own claims, but the decision of demonetization proves that the Prime Minister will continue to attack the black money that is hollowing out the country's economy from time to time. And for this, he can take any big and tough step at any time. In this context, it has been said that the Modi Government is going to take a big step for the country's economy soon.
According to the information received from the media, the Modi Government can introduce a special scheme to curb those who buy gold from black money. According to the information, like the Amnesty Scheme of Income Tax, the Modi Government can launch the Amnesty Scheme for gold too. Under this scheme, if there is more than a fixed quantity of gold without the receipt, it will have to be informed and the price of the gold will have to be reported to the government.
For your information, let us know that to determine the price of gold under this Amnesty scheme, a certificate will have to be taken from the valuation center. Under this scheme, all the gold without a receipt will be disclosed; a certain amount of tax will have to be paid on that gold. This ambitious scheme of the government will be opened only for a fixed time frame. At the same time, after the scheme is over if the gold is found more than the prescribed quantity, a heavy penalty will have to be paid. At the same time, according to the information received from sources, there may be special announcements to use the gold deposited with the temple and the trust as a productive investment.
According to the information received from the media, along with the Amnesty scheme, there may be announcements to promote gold as an asset class. Several important changes can be made under this scheme to make the Sovereign Gold Bond Scheme attractive. At the same time, the option of mortgaging the Sovereign Gold Bond Certificate can also be given to the people.
Where it is also said the Modi Government can also announce the creation of a gold board. This is because the government wants to use gold as a productive investment instead of keeping it as a deposit in the houses. As you know, gold is used as the largest consumption of jewelry in India in the world. According to the information, India consumes about 849 metric tonnes of gold every year.
In India, people like to invest in gold the most. According to the information, millions of tonnes of gold are kept in homes in India. It is the intention of the Modi Government that it is important to invest this gold kept in homes in the right way, which will give a boost to the country's economy. This plan is said to get approval from the cabinet soon.
If Modi Government takes any such decision on gold, then it will also be considered a historic decision like demonetization. As we told you earlier that gold is consumed in tons every year in India, in such a situation, the Modi Government wants to use this gold as a productive investment.
But this decision of the Modi Government may have to face a lot of trouble for those who have gold purchased from black money or who do not have the gold purchase receipt. That is it is clear that once again the Modi Government is going to attack black money again.
