Fix black money generation and augment tax revenues.

The Chartered Accountants are the brain behind money laundering and safeguarding black money holders. The source of generation of black money is known to all educated fellows in the country but they have no avenues to bring to the notice of the IT although IT officials are themselves aware of the modus operandi of generating black money in India, Banks are also a party in aiding the people to transfer black money in different ways, The export and imports need to be thoroughly investigated. All educational institutions insist on cash and they are the major sources of black money generation. Professionals ,traders, brokers of all kinds operating in different cities and towns are other sources. Small chit fund operators in all metropolitan area deal only in cash and their clients are whole sale and retail traders engaged in all sorts of commodities.Happy to see that the the IT department has been active to fix the evaders. Instead of their being after salaried class and pensioners earning less than Rs 10 lakhs with some silly queries , their time can be well spent in tracing the cash transactions every where and fix the tax evasion.Once they succeed , the tax collection would get drastically augmented and the people particularly honest category of tax payers would give full cooperation to the Government in fixing the problem of tax evasion and generation of black money.''The readiness is all that matters.'' Dr T V Gopalakrishnan ( This comment appeared in Times of India dated 8/7/2106).