Thursday, 13 October 2016

Tip of the Iceberg ?


DNA MONEY ( 13 Oct 2016 ) has following screaming headline :


" Rs 30 lakh*crore black money in stocks : I-T


It reads :

" The IT department's figures for 2014 - 15 , show that the stock market's turnover more than doubled from Rs 32 lakh*crore to Rs 66 lakh*crore . In the same period, the number of alleged and potential tax evaders soared about 150 %


Figures from the documents show that just 3 % of total investors in the stock market have invested Rs 61 lakh*crore in BSE-listed companies ( 92 % of the total investment )


The documents also show that out of the 3 % of high net worth investors, about 47 % have not filed I-T returns for 2014-15


In fact, these documents claim that investors have routed about Rs 30 lakh*crore of funds through stock transactions in a year , without disclosing their income


Of the 47,625 entities which did not file I-T return in 2013-14 , as many as 46,119 ( 97 % ) , were individuals "



Apparently , I fail to grasp how Rs 30 lakh*crore worth of BLACK MONEY , got invested in stocks , when :


#   Share Certificates are in Demat format ( with full details in demat accounts of account-holders )

#   Trading is Online ( with entire transaction log available on BSE central server )

#   Payments ( received against a sale ) are through banking channels



I suppose , somewhere along the TRANSACTION  TRAIL , cash ( in the form of Rs 500 / 1000 currency notes ) , enters  into the picture - only to disappear somewhere else without leaving a visible trail !


Here is one more reason to implement my repeated suggestion to replace current / paper currency notes of Rs 500 / 1000 , with new , plastic currency notes embedded with RFID micro-sensors



Much like those Process Control Panels ( SCADA ) in Master Control Rooms of ,

#    Petroleum Process Plants

#    Power Generation Stations 

#    Power Transmission Load Balancing / Dispatch Rooms

#    Air / Rail Traffic Controllers

#    Mobile Phone Traffic Controllers

#    Foreign Exchange Traders

#    ISRO .............etc ,


a  BLACK MONEY FLOW CONTROL PANEL  in the control room of I-T / ED , will light up with a RED SIGNAL , the moment RFID-embedded CASH enters the flow of money in Stock Trading !


Of course , persons who have never been inside any such Master Process Control Centers , may have doubts


But not Shri Narendra Modiji , who has been inside ISRO Control Center and witnessed how Indian Scientists launched / tracked / monitored and controlled the trajectory of Mars Orbital Mission !


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14  Oct  2016


www.hemenparekh.in / blogs




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