1. Strengthen Indirect Tax Laws

  • The present laws of customs, excise, service tax, VAT laws are very lenient.
  • You can evade all actions by paying merely 15% penalty on tax evaded in central taxes.
  • The penalty was 5 times of evasion with arrest two decades ago.
  • Lenient law promotes evasion and generation of Black money.

2. Stringent Income Tax Laws 

  • No provision of arrest on income tax evasion.
  • You can get away with paying a nominal penalty through settlement commission and other schemes.
  • Imprisonment upto 5 years in the USA for income tax evasion with upto $250,000 fine and cost of prosecution.

3. Promote Cashless Transactions

  • Make all transactions beyond Rs.1000 compulsory through Electronic mode.
  • Charge extra tax for cash transactions.
  • PAN card mandatory for all cash transactions above a limit.
  • Incentivize credit/debit card, mobile, online transactions.
  • Tax exemption on card swiping machines.

4. Limit of Keeping Cash

  • Prescribe upper limit for cash to be kept at home/office.
  • The maximum limit can be 50% of the monthly income.
  • Seizure of cash and 100% penalty for keeping the extra cash.

5. Monitor Real Estate Transactions

  • Extensive survey to Locate and Seize Benami Properties.
  • Compulsory intimation of all real estate transaction.
  • All registrations put up on the website.

6. Monitoring of Gold Purchase

  • Smuggling of gold to be made Non-Bailable offence.
  • All gold/diamond purchases only through electronic mode.
  • Cash transactions allowed only against PAN/AADHAR cards authentication.

7. Public Funding of Election

  • Use of black money in an election should be stopped.
  • Citizens to pay 0.1% of their tax as Democracy cess.
  • Government to collect more than Rs.15,000 crores in five years to fund elections.

8. Government Laws for Business

  • Simply rules and procedures to do business in India.
  • Ensure time boundary delivery of government services.
  • High accountability to government officers.
  • Punishment/Penalty for deliberate Wrong/Delayed decisions.

9. Judicial Reforms

  • Justice Delayed is Justice Denied. Judicial reforms to expedite Justice Delivery process.
  • Reduce frivolous litigations.

10. Reward to Informer and Officer

  • Give 10-20% rewards to the informers and officers who detect tax evasion.
  • Develop mobile apps to submit information seamlessly and anonymously.
  • Publicise reward schemes to public.