Aadhaar must for financial transactions of Rs 50,000 and above

[rsarkar]

http://economictimes.indiatimes.com/news/economy/policy/aadhaar-mandatory-for-opening-bank-account-financial-transactions-of-rs-50000-and-above/articleshow/59177273.cms

Looks like govt is willing to monitor every transaction in the country.Is bitcoin regulation a tougher process now?

[bitcoinisbest]

I think they have niched it too much now. Because 50000 and above transaction there would be lakhs of such transaction in a single day across India. Will govt go through each transaction and if so how will they monitor on daily basis. Will they hire n number of people to go through such transaction? The limit should have being 2 lakhs.

[SimonJones]

Control the money and then control the population. We have an authoritarian government that is trying to do everything it can to control the people. There may be development but is it worth our freedom?

[@prashant]

Control the money and then control the population. We have an authoritarian government that is trying to do everything it can to control the people. There may be development but is it worth our freedom?

It is worth freedom,i am happy that after a long time a sensible goverment has taken control of india.congress was corupt and has ultimately lead to corupt government.if your money is coming from legit source then there is no need to worry ,if you do a transaction of 50k or 50 lakh.

[Esphere.in]

I think they have niched it too much now. Because 50000 and above transaction there would be lakhs of such transaction in a single day across India. Will govt go through each transaction and if so how will they monitor on daily basis. Will they hire n number of people to go through such transaction? The limit should have being 2 lakhs.

What they can do is they could monitor every account and will go through the income tax returns filed and if they find any difference the system would automatically flag you and all they have to do is to send you a warning letter,now everything will be monitored.

[blackowl11]

Control the money and then control the population. We have an authoritarian government that is trying to do everything it can to control the people. There may be development but is it worth our freedom?

It is worth freedom,i am happy that after a long time a sensible goverment has taken control of india.congress was corupt and has ultimately lead to corupt government.if your money is coming from legit source then there is no need to worry ,if you do a transaction of 50k or 50 lakh.

So I think you have already taken GST registration and will be paying 18% tax for the money you receive from Signature campaign?
Or the laws which does not apply to you are only required to be followed by HONEST people.
Maybe your freedom is cheap but not everyone wants to support the robinhood govt policies of taking tax money and spending on freebies and cow protection, just to get more votes. How is this less corrupt?

[SimonJones]

Control the money and then control the population. We have an authoritarian government that is trying to do everything it can to control the people. There may be development but is it worth our freedom?

It is worth freedom,i am happy that after a long time a sensible goverment has taken control of india.congress was corupt and has ultimately lead to corupt government.if your money is coming from legit source then there is no need to worry ,if you do a transaction of 50k or 50 lakh.

All systems have to work and grow together - finance, judiciary, legislature etc. When one is taken to an extreme it will lead to an imbalance. Giving too much power in one area will only lead to harassment of innocent people.

[newinbtc]

I think they have niched it too much now. Because 50000 and above transaction there would be lakhs of such transaction in a single day across India. Will govt go through each transaction and if so how will they monitor on daily basis. Will they hire n number of people to go through such transaction? The limit should have being 2 lakhs.

What they can do is they could monitor every account and will go through the income tax returns filed and if they find any difference the system would automatically flag you and all they have to do is to send you a warning letter,now everything will be monitored.

Right ,

this is not new rule that Transactions above 50k required Adhar cards , Previously They ask Pan card you can do Tranx of 49000 rs to avoid this , But now a days , Aadhaar card and Pan card is compulsory for Banking Tranx as per new Govt rules.

We just need to keep a record of Such Unknown Trax and Proof What we did,
Thats Why GST came , We need to submit 32 Returns in the Year if you are GSt user , Also a Online Shopping seller need to submit everyThing. GSt benefit to those only if you do Interstate business less than 10 lakh per year.

[Marma Kalari]

It is worth freedom,i am happy that after a long time a sensible goverment has taken control of india.congress was corupt and has ultimately lead to corupt government.if your money is coming from legit source then there is no need to worry ,if you do a transaction of 50k or 50 lakh.

Maybe your freedom is cheap but not everyone wants to support the robinhood govt policies of taking tax money and spending on freebies and cow protection, just to get more votes. How is this less corrupt?

That is exactly what i am seeing ,killing innocent people in the name of a bloody animal.Yes the previous government were corrupted but we had our freedoms,that is not the case now,if you raise your voice against anything you will be called an anti national.

All systems have to work and grow together - finance, judiciary, legislature etc. When one is taken to an extreme it will lead to an imbalance. Giving too much power in one area will only lead to harassment of innocent people.

On a side note yesterday BJP’s Yuva Morcha Leader Held in Kerala With Fake Notes as he was printing money in his home,the parody was that he was helping the central government to counter the cash issue ,working together in harmony  i would say they are just a bunch of hypocrites who like to divide people so that they could rule for a longer period.

[@prashant]

Control the money and then control the population. We have an authoritarian government that is trying to do everything it can to control the people. There may be development but is it worth our freedom?

It is worth freedom,i am happy that after a long time a sensible goverment has taken control of india.congress was corupt and has ultimately lead to corupt government.if your money is coming from legit source then there is no need to worry ,if you do a transaction of 50k or 50 lakh.

So I think you have already taken GST registration and will be paying 18% tax for the money you receive from Signature campaign?
Or the laws which does not apply to you are only required to be followed by HONEST people.
Maybe your freedom is cheap but not everyone wants to support the robinhood govt policies of taking tax money and spending on freebies and cow protection, just to get more votes. How is this less corrupt?

Those who do not want to support this scheme are illegal holder or their supply of money is not coming from valid source.tax is necessory to run goverment well and mainly they work for people need leaving previous government which has resulted corruption in india and who is this freebies people you are talking about?

[karan1498]

Control the money and then control the population. We have an authoritarian government that is trying to do everything it can to control the people. There may be development but is it worth our freedom?

hahaha yes need to control population ! money cant be controlled