Introduce Wealth Tax
On Gold
Honorable Prime Minister
Dr. Manmohan Singh
Cc to Honorable Members of
Parliament
Respected Sir,
Ramdev recently uncovered
the ‘Black Gold’ worth Rs.142,00,000 crores as reserves of Black Money with
Indians or $3 Trillion. This is twice the GDP of India.
This huge reserve could be
utilized to develop Indian Infrastructure and Industries.
It was therefore Important
to introduce 4% tax on Gold Transactions and was OK to reduce it to 2% in case
of unbranded Jewelry.
GOI may also introduce
‘Wealth Tax on Gold, Gems and Precious Metals in Excess of 500gm per household
at 2% per year.’
These Tax Proposals could
generate Rs.1,50,000 crores to GOI as Annual Tax in addition to other tax
proposals enough to Fund India’s
Food, Healthcare and Education Expenditure Gap.
Ø
Also make it
compulsory to ‘Declare All Gold Gems and Precious Metals Holdings’ – Any thing
not declared be treated as ‘Black Money’ generated through ‘Criminal Activity
and Tax Evasions’ liable to be Confiscated.
Ø
Also introduce
‘Gold, Gems and Precious Metal Identification Code’ – Gold could packed in
Vacuum Sealed packs and each item in it given a tag number.
Please go ahead with
determination.
Ravinder Singh
April07, 2012
50,000 x 1000 x 100 x
Rs.28,410 = Rs.1,42,05,000 crores
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