How IT Dept will curb the below?
1. Firms/ Entities having black money have started giving monthly salary/ incentive in cash to adjust cash balance.
2. Exchange of old 500/ 1000 currency with gold/ bullion @ Rs 50k/8gms.
3. Politicians started giving 30% to 50% discount via middlemen for exchange of currency (similar to distribution that happens while cash for votes)
Present Government is trying its best.
We can accept that something is better than nothing.
Unless the mindset of the citizen changed, the loopholes will remain.
CAclubindia
