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Demonetization essay pdf
good. If the claims are correct then it should take years for people to generate that amount of black money again and hence in a way it helps in putting an end this circle of people doing illegal activities to earn black money and using that. It turned out that more than 99 of demonetised currency came back to the RBI and was accounted for. Second it is done to curb black money, third to control escalating price rise, fourth to stop funds flow to illegal activity, fifth to make people accountable for every rupee they possess and pay income tax return.
Demonetization essay pdf
Increase in Direct Tax Collection, collection of Advance Tax under Personal Income Tax (i.e. Tempers are running high among the masses as there is a delay in the circulation of new currency.
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Based on demonetisation data, the government boosted its enforcement actions which had the following results: There was 158 increase in number of searches (from 447 to 1152 groups). The first impact shall be that people will have lower expenditure power. Demonetization 5otes in India is a move applauded by many people. A taxpayer who has not opted for the pmgky scheme but offers his black money in his Income Tax Return will have to pay tax and penalty at the rate.25 percent. Increase in the number of survey resulted in 44 increase in the detection of undisclosed income (from. If these are the merits, there are demerits of this policy as well.
S ince our economy is an under banked economy, present demonetisation. Full-Text Paper (PDF Black Money and Demonetisation. Article (PDF Available) in ssrn Electronic Journal January 2016 with. Demonetization Essay Pdf Essay on Demonetization pdf India -20 00 Words On the evening of 8th November 2016, Prime Minister.
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