Tax reforms - taxes without tax laws

This paper suggests a new tax system without tax laws, tax collection departments and tax enforcement agencies.This new tax system will be without present system’s all Direct and Indirect taxes accompanied by tax laws, tax exemptions, multiple tax collection departments for States and Centre, compulsory accounting, auditing and tax returns to relieve 7 billion people of the world from the cobweb of ambiguous and complex tax structures, plethora of tax laws, mandatory and cumbersome accounting, auditing, tax returns and consequent quagmire of all tax related cases. Taxation, tax collection, tax enforcement, tax compliance, allocation of revenues to various ministries or departments, distribution of subsidies, implementation of welfare schemes and money supply into the economy are unified and integrated in the banking system. There will be no tax collection expenditure for the Governments and no tax compliance costs for the people either. Citizens need not maintain separate account books and submit tax returns annually for paying either Direct taxes on personal incomes or Indirect taxes while running business or industry. Yet, this new tax system envisages 20 to 30 % more revenues from single tax called "TOP Tax” - than presently accruing revenues from multiple taxes collected by different tax collection departments/agencie

A road map to cashless economy in India

The cashless economy should be achieved in the phased manner and step by step process instead of forcing it on people overnight without expanding/providing banking infrastructure to every nook and corner of the country, internet connectivity with high speed at cheap rate and unbroken power supply. The demonetisation of higher valued notes and cashless economy are Siamese twins and they cannot be separately achieved. This record was migrated from the OpenDepot repository service in June, 2017 before shutting down

Banking Redefined

Taxation, tax collection, tax enforcement, tax compliance, allocation of revenues to various ministries or departments and money supply into the economy are unified and integrated in the banking system. There will be no Direct and Indirect taxes, tax collection departments, tax tribunals and tax enforcement agencies. Citizens need not maintain separate account books and submit tax returns annually for paying either Direct taxes on personal incomes or Indirect taxes while running business or industry. There will be no tax collection expenditure for the Governments and no tax compliance cost for the people. Yet, the tax revenues from only single tax called “TOP Tax”, collected by banks, will be 30 to 40% more when compared to tax revenues accrued from all taxes in the present tax system

Voting in general elections on single day and in single phase

This expanded banking system will help the Election Commission conduct voting in General elections on single day and in single phase. All elections from panchayats to Parliament can be conducted with the help of expanded banking system with minimum cost and without rigging and impersonate voting

Land savings account to stop farmers' suicides in India

The Land Savings Account can be useful in distinguishing who are small and marginal farmers and who are rich farmers. So by using the land savings account all rich farmers should be kept out of the reach of farm subsidies. Subsidies should be given to farmers who depend only on agriculture income. The rich farmers, who have other sources of incomes from government or private jobs, contracts, business, industry should be kept out of the reach of agriculture subsidies. * All agriculture subsidies should be given only to these small and marginal farmer

A Road Map To Cashless Economy In India

The cashless economy should be achieved in the phased manner and step by step process instead of forcing it on people overnight without expanding/providing banking infrastructure to every nook and corner of the country, internet connectivity with high speed at cheap rate and unbroken power supply. The government should continue the demonetisation program of high valued notes one by one along with making the cashless transactions step by step and from top to bottom i.e; from the super-rich to rich; from the rich to middle class; from high valued goods to low valued goods; from luxury items to essential commoditie

HIGH EFFICIENCY TURBINE

Varma designed ultra modern and high efficiency turbines which can use gas, steam or fuels as feed to produce electricity or mechanical work for wide range of usages and applications in industries or at work sites. Varma turbine engines can be used in all types of vehicles. These turbines can also be used in aircraft, ships, battle tanks, dredgers, mining equipment, earth moving machines etc, Salient features of Varma Turbines. 1. Varma turbines are simple in design, easy to manufacture, easy to operate and maintain. 2. Varma turbines are less expensive. 3. Varma turbines have a great power to weight ratio, compared to present turbines. 4. Varma turbines will have low maintenance costs. 5. Varma turbines will have 95% efficiency, the highest compared to any present turbines. 90 % of turbine's inside space is empty. 6. Varma turbine parts will be less prone to rust, erosion, wear and tear. 7. Varma turbines will arrest all leakages of steam, gas and water in respective turbines. 8. Varma water turbines can convert the whole potential energy in every drop of water, acquired by virtue of its position, into kinetic energy and further into electricity 9. Varma turbines will have no blades, either fixed or rotary, the complex structures of present turbines. 10. Varma turbines have common design to use gas, steam or water's potential energy as feed to generate electricity or mechanical work. 11. Varma turbines will have low noise and no vibrations because the balance of the rotating sphere and shaft is perfect. 12. The base of the turbine will be more compared to its steam intake chambers. It gives more stability to turbine. 13. Varma turbine will face less thermal and corrosion fatigue, less stress, cracking and misalignment. Basic conceptual design of Varma Turbines - There are four types of varma turbines 1. Varma steam turbines 2. Varma gas turbines 3. Varma water turbines 4. Varma Turbine engines. Read full article from -- http://turbine.net.in. This record was migrated from the OpenDepot repository service in June, 2017 before shutting down

How to conduct free and fair elections

The expanded banking system will help the Election Commission conduct free and fair polling for General elections on single day and in single phase. This record was migrated from the OpenDepot repository service in June, 2017 before shutting down

Money supply in top tax system

In the future economic system, as suggested by TOP Tax system, the total money supply (real money and debt money/loan money) to be necessary for circulation in banks should be at the minimum level of 100% and at maximum level 110% of the value of GDP of the country. Out of this total money supply in the economic system, 99.7% of the money will be in dematerialised (non physical) form in the accounts of citizens, Governments and companies. Only small portion of money, equalling just 0.3% of the total money in the economic system, will be in physical form i.e. currency notes or coins. All high valued paper currency notes will be demonetised