Money isnt taxed, income is.
India politics thread
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In the latest episode of the United Hour Podcast, Nik and Imran hold a long overdue conversation about United's awful league form with 1 win in 7. They discuss a disappointing draw at Bournemouth, a not so disappointing draw against Liverpool and a crushing defeat at Chelsea - Is time nearly over for Erik Ten Hag?
Then in a special second half of the pod, Nik welcomes Natalie ( https://twitter.com/natalie_17) to discuss the fortunes of Manchester United Women as they booked a place in the FA Cup Final after a historic first ever win vs. Chelsea.
Is that your best argument? i mean dont you care for 67% of population that is unbanked?
Wut?
http://www.cnbc.com/2015/10/15/india-sees-massive-drop-in-unbanked-population.html
This report says is closer to 20% and that too before the second phase of the jan dhan yojana which almost halved the amount of unbanked population in India.
Yeah Modi should have planned, organized and implemented the entire thing without telling anyone in the party so it would be fair to everyone. Smashing idea.
People coming up with such inane nonsense probably have lots of money stashed in their closet and are shitting it. The biggest problem with the whole thing seems to be misinformation more than anything (spread via social media it would appear). Your money isn't useless unless it's dirty.
People coming up with such inane nonsense probably have lots of money stashed in their closet and are shitting it. The biggest problem with the whole thing seems to be misinformation more than anything (spread via social media it would appear). Your money isn't useless unless it's dirty.
And a Business standard article saying almost every household in India has an account.
http://www.business-standard.com/ar...sehold-has-a-bank-account-115021101677_1.html
If someone is sitting on a lot more than that and hasnt paid taxes on it, I have no sympathy for them.
It's still an inconvenience for a lot of people..
http://www.business-standard.com/ar...sehold-has-a-bank-account-115021101677_1.html
Everything I read suggests it wont affect people who make deposits of a few lakhs either.
If someone is sitting on a lot more than that and hasnt paid taxes on it, I have no sympathy for them.
It's still an inconvenience for a lot of people..
You seem pretty frustrated, M10. How much did you lose?
And its not like Modi is just going to sit idle after this. He has shown he is willing to take tough decisions to combat black money and I expect more to come from him on this.
Agreed. In the US corporations park money abroad knowing that at some point the politicians will cave in and give them a low-tax window. There is no incentive to be honest with your taxes in that system.
Not sure I have much sympathy for her tbh. Rs50L in cash?!
None. I work on commission basis from MNC firms, even if i want icant have black money. TDS is paid the instance i sell a product.
Only 23000 people(ok households will make it 1.5lakh people) from 1.25 billion indians? I call bullshit.
Anyways that will be it from me on the argument. Some people seem more knowledgeable than me on this and i dont want to look like an idiot supporting black money. I am not questioning the intention of the govt just the way it is being done. Surely it could have been done much better.
On another note, rumours of salt hoarding and gold hoarding are circulating everywhere, how does govt stop these rumours? People are not that well read and dont have much info about these and might believe these rumours?
On another note, rumours of salt hoarding and gold hoarding are circulating everywhere, how does govt stop these rumours? People are not that well read and dont have much info about these and might believe these rumours?
TDS has got nothing to do with having black money.None. I work on commission basis from MNC firms, even if i want icant have black money. TDS is paid the instance i sell a product.
Income is taxed. Not money. Effectively you are giving the black money holders tax free income which they will invest in places and earn income. It will only encourage more people to have black money.
If you see someone having 100 crores of tax free income whereas you pay tax on the 10lakh income you have anyone will be pissed off
It is not government's job to stop every rumour but they have already officially declared the baseless of it. You are making every possible excuse here for the cnuts in the country and want government to do things as per it. No wonder this country has had so much corruption and graft problem when people expect it to be part of system and make excuses for it even though they themselves might not be corrupt.
360 more like. When tweets posted are from accounts such 'Punjab_AAPian', not too hard to imagine why.
The 'Modi ji faraar' one is so laughable. I guess AAPtards expect Modi to sit on his Arse like that moronic clown Kejriwal, picking up twitter fights and wumming whole day. It is embarrassing the tweets he posts considering he is CM of Delhi ffs. Somebody should tell these people posting that hashtag is that going away to sign civil nuclear agreement with Japan is not a definition of 'faraar.'
Oh and the true pioneer of the movement which gave birth to AAP, Anna Hazare, has praised this move.
Oh and the true pioneer of the movement which gave birth to AAP, Anna Hazare, has praised this move.
Maradona's point about this being handled better is valid though. Banks have been ill equipped so far to handle the demand. Whilst expected, it could surely have been better to help the transition. In any case, expect this to settle down by Tuesday so it's just a short period of pain for a much bigger good.
The problem with doing it in phased wise manner would have meant that those with black money would have got chance to find out ways to salvage it. Already people are doing/done things to bring down loss. Brains of our people run too fast and in too maverick ways on such matters
There is also the point of people panicking and queuing outside bank from day 1 when there are close to 2 months to do so. It is understandable for poor who don't use card much and want to exchange the big denomination notes soon but even middle class people are doing so who can get most of things done using card.
Saw couple of messages yesterday from people on FB that they went for exchange and got it done in 15 min flat. Not in a village, in a big city so even the long queue thing was just for a day or two. It is funny when some people suddenly see standing in queue once for a move which can eradicate the biggest problem of country a large inconvenience. Standing in queue for hours and hours at religious places, waiting for an hour outside restaurant, waiting for hours outside idiotic movie stars' house to catch their glimpse is something they are fine with. Thankfully, the majority of opinion is that it is a good move. PM in his address himself had said that this move will definitely cause 'some inconvenience' and requested people to bear with it with for long term objective.
Wasn't talking about it being done in stages. Even a 1 day warning would be enough for people to convert cash into another denomination and render the entire thing pointless.The problem with doing it in phased wise manner would have meant that those with black money would have got chance to find out ways to salvage it. Already people are doing/done things to bring down loss. Brains of our people run too fast and in too maverick ways on such matters
There is also the point of people panicking and queuing outside bank from day 1 when there are close to 2 months to do so. It is understandable for poor who don't use card much and want to exchange the big denomination notes soon but even middle class people are doing so who can get most of things done using card.
Saw couple of messages yesterday from people on FB that they went for exchange and got it done in 15 min flat. Not in a village, in a big city so even the long queue thing was just for a day or two. It is funny when some people suddenly see standing in queue once for a move which can eradicate the biggest problem of country a large inconvenience. Standing in queue for hours and hours at religious places, waiting for an hour outside restaurant, waiting for hours outside idiotic movie stars' house to catch their glimpse is something they are fine with. Thankfully, the majority of opinion is that it is a good move. PM in his address himself had said that this move will definitely cause 'some inconvenience' and requested people to bear with it with for long term objective.
My concern wasn't with queues either, wasn't my point. It's a small pain considering the change happening.
My point was about banks being short of cash especially in 100 Rs denomination. 2000 notes aren't going to be much use immediately because no one has the change to return. Even the 2000 notes weren't in big supply. The ATMs are still not properly functional and where they are, the amount is far from enough. My bank for instance has just 4 lacs in the ATM at its biggest branch. That's enough for just 200 people and not enough at all.
Basically, there should have been a much bigger supply of cash at banks to smooth the transition for people. People are more concerned with getting the daily cash than about depositing the money they hold atm, there's plenty of time for that. Everything else is fine.
So again I ask. How was it demonetization. Withdrawal doesn't equate to demonetization. It was free exchange then, not demonetization and no restrictions. A huge difference.
Yup, as much as I may disagree with some of his other points, handling could and should have been better. The government had been planning for this for as many as 6 months as per some reports, so surely they should have focused on printing more of 100s and the newer 500s and 2000s so that the replacement and all can be easy and smoother
I see your point, but with such huge country logistics would always be a problem. Lets see how it goes over the next few days.
Yup, that's why I said in my first post, it's expected that it goes this way but just wish it'd have gone better. In any case, this will settle down by Tuesday/Wednesday.
You are cute you can stop he wum now
Its like i am banned to talk about negatives of this scheme?I mean yes its great but cant we talk about anything that its not upto scratch? Feels a bit like a dictatorship. Dont know about rumours but there are innocent people buying Namak at 150rs/kg from Hoarding people. Of course it could be handled better. We live in 2016 and its okay to question a decision by the government. Its a government that itself opposed the GST when the opposition was in power and even called Year2005 -500 rs note scheme as a scam? Demonitisation was a crime under congress but you cannot question Modi. Like he has no previous in gujrat? Like he recieved no "donations" for his campaign and he has done everything by the law? I dont think anyone should have sheep mentality and questioning something is not wrong
PS: i might have quoted TMH, i mean this post for everyone.
Everybody knows there will be some inconvenience and PM himself admitted it. Your purpose behind questioning it is pretty obvious when you try to bring Gujarat in it. The one in 2005 wasn't 'demonetization.' Yes, it is government's problem that people spread rumours like about salt. They should instead sit on arse than doing something like this to tackle black money. You know like the clown who is CM of Delhi does.
Its not some inconvenience its a major one.Hardly 30% ATM have cash, banks have ques that are unending and trade is zero because no one wants to spend the new cash, its a credit chain that has formed with your local sabjiwala, kariyanawala etc. People cant discharge their family from hospitals, the only thing obvious about my questioning is the questioning itself. The govt is a public servant and i am authorised to ask questions. Freedom of speech ever heard of it?
Yes it is the govt problem to be better prepared about it, not just stopping rumours. It does not effect you hence you say its not govts problem, but it is, it has to take care of everyone, its not just one man's govt. Bringing kejri into it is stupid, lets agree that he is far too stupid to be even put into the argument. Doing something about blackmoney does not mean you do nothing about people. Just like doing something about terrorism does not mean you nuke pakistan.
Who helps him? This is what i am talking about.Tweet
— Twitter API (@user) date
This is just wall of incoherent nonsense without any proper point. You do realize bank and ATM are already active and people can pay in hospitals via card too? You do know government hospitals will be accepting 500-1000 notes too?
Hardly 30% ATM have cash? Who told? Some guy on twitter or you have an independent agency who have done survey throughout the country on how many ATMs have cash? I have read people saying they got money exchanged in 15 min so 'unending queue' bullshit is worthless point. It is not forever those queues are going to last in case you didn't know.
You do realize there are suggestions and explanations given by both RBI and govt for possible isdues and not everybody goes on stupid rant without knowing one bit about issue?
Bringing the clown opposition is perfectly right thing to do especially when that someone was going to solve corruption problem. What is actually unbelievably moronic is someone somehow finding way to blame rumours on government.
The guy himself is not worried and is saying this is the right decision.
Awww. What did that blind beggar do till now? He just gave note to someone when he wanted to buy something and trusted to get exact change back? A beggar carrying 500 and 1000 denomination notes lol.
Why don't you go help him though? You really seem concerned about such cases. He himself is not worried about it anyway.
It is actually great fun seeing people hiding behind poor, beggar etc when everyone knows the reason why those who are worried are getting worried by this
No one questions the decision, the question is the handling of it.
It didn't end, but it definitely got much lesser. It will also be decision that people will have to make before accepting or accumulating huge cash reserves again!
67% of the population is un-banked, but 100% of the population has a post office within a radius of 20 kms. That's why the post offices are exchanging money. People I know in the RBI have mentioned that their focus has been to get the Rs. 100s and Rs. 500s to all the post offices in the country to be able to make these exchanges. The Post office was also given a payment bank license a year back and the government has been training post office employees to accept cash, open accounts etc.
Last year, when these payment bank licenses were granted. I thought it was quite odd that a post office will provide banking services! But, this makes a lot of sense now. If the post office was not equipped/ trained to handle this transition, the unbanked sector would have had a really tough time!
I have followed a lot of people who are saying that the poor are having trouble. But every poor I have come across with has been very happy! My house help actually said, (I paraphrase), "all big people who are not doing legal things will be affected, in our basti [slum] we are very comfortable".
That's the best bit. The beggar himself is quite cool about it but the guy questioning him seems desperate for beggar to blame the move.
It is very inconvenient tbh. The ATM's near my house are either empty or have massive queues. Still, no pain no gain and all that jizz I guess. Should settle down in the next couple of weeks.
One things clear though, Maradona10 is overflowing with dirty money.
One things clear though, Maradona10 is overflowing with dirty money.
If you took that video. You should guide him to the closest post office! I hope he has some form of ID.
Ummm i can also call whatever you write as "A wall of nonsense" because people i meet say they had to stay in cue from 6.00 am and were told at 12.00 pm bank ran out of notes, come again tomorrow. My percentage is shit but you read someone who goes and gets notes in 15 mins is correct?
the smiley isnt enough HAHAHAHAHAHA!I like the way you argue, ignore any points you dont have answer to, Try to make fun, Follow blindly. I think modi might need a few more sheep, you should upload your resume.