NEW DELHI: A former bank employee has made high claims that he has devised a method, which can stop the generation of black money, control its circulation and stop tax evasion up to nearly 100 per cent.
Former senior manager of Bank of India Jagdish P Gupta asserted that his invention would make it difficult for anybody to evade tax and all the black money would be in government's coffer.
''This method will have new Booking Keeping System with new features like Super Bank Statement (SBS) containing Single Entry System conforming with all the norms of Double Entry System, which is being used presently,'' Mr Gupta said.
According to him, every man will be issued a unique Consumer Identification Number (CIN), so that government can have information about every individual.
All the business ventures will also be treated as an individual and given a CIN, he added.
This new SBS system would also be merged with CIN, which would enable the government to keep information about all the transactions made by any person at any point of time, Mr Gupta assured.
1 comment:
It the technique of Mr. Gupta really work, it will be a great success for our country.
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