The unforeseen and instant decision by the govt to demonetise Rs 500 and Rs 1000 notes has sent all the illegal money holders into a tizzy.
All these unaccountable money holders want to convert their black money into white, but they fear being penalized by the income tax department.
And the country wants white money for a stronger economy.
What’s up with startups
The country’s startup economy is not in a good shape. Investor funding has dried down, resulting in shutdown of many companies, which is not a positive sign for the country.
More startups mean more job creation and a flourishing economy.
But suddenly. a lot of mamas and chachas are turning angel investors and are willing to put in their (black) money in startups.
So, here’s a proposal to the Prime Minister.
- Allow black money holders to invest in startups with the same timeline, before the end of December.
- Ask them to pay regular Tax + Penalty waived off. A portion of that money, a minimum fixed percentage (Government can decide that) will be considered as equity, and the rest can be considered as debt investment without interest.
- This investment should be applicable only to existing startups otherwise black money holders will create fake startups to use the scheme as a loophole.
How will it help startups?
Startups get funding, and because a percentage of it is considered equity and the rest is debt, they will be forced to return the investment after a specific time. So they are forced to make profits as well.
How will it help the Government?
Govt will get white money + their tax, instead of just a penalty.
This is a smart way to attract more investor money in the startup ecosystem, which translates into more jobs.
Instead of destructing black money, let’s use them for good & positive cause for country!
If you are a startup, and if you think this is a win-win situation for everyone, help spread the word by tweeting #BlackToWhiteForStartupIndia
If you have black money and this excites you, please share.
