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  #1  
Old 11-09-2016, 01:12 PM
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neharani neharani is offline
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Default Surgical Strike against Black Money

PM Narendra Modi on Tuesday announced that Rs 500 and Rs 1,000 denomination notes are being withdrawn from mid night. Modi said the step was taken to control the menace of black money in the country, which has sapped the economy.

Here you can also check what to do with old 500 and 1000 Notes

Exchanges these notes showing ID proof
Deposit notes in banks and post office only
Can exchange notes b/w Nov 10 to Dec 30
No restriction on card payment, cheque, DD, Electronic funds transfer
Rs 10,000 withdrawal per day, Rs 20,000 withdrawal per week

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Old 11-09-2016, 01:27 PM
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Huge supporter of Surgical Strike against Black Money but my only concern what about the troubles common people facing for two days one thing which is completely wrong here is as usual government will not have a proper plan to launch such a big thing which will trouble common people. Anyhow heartily welcome the masterstroke played by PM Modi to accomplish the dream of corruption free India.
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Old 11-09-2016, 01:30 PM
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Shilparana Shilparana is offline
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Salute to You PM Modi. Awesome Idea...!!

A very good move by Modi government. What a fantastic move against black money to ban Rs 500 and Rs 1000 notes! This will be a game changer. I welcome it whole heartedly.
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Old 11-09-2016, 01:31 PM
Shikha Patial Shikha Patial is offline
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This is the best way to find out black money and to reduce corruption in India.
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Old 11-09-2016, 01:33 PM
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Rohit Kumar Rohit Kumar is offline
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Good Decision By RBI and Indian Government.
Narendra Modi is best Prime minister ever.
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Old 11-09-2016, 02:01 PM
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This is the best move played by PM Narendra Modi to make India corruption free. Narendra Modi is the best PM of India.
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Old 11-09-2016, 02:40 PM
RajeshSingh RajeshSingh is offline
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I'm really happy with Decision taken by our PM Narendra Modi...
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  #8  
Old 11-28-2016, 06:21 PM
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Default Pay 50% tax on unaccounted deposits, or 85% if caught: Gov

Providing a window to black money holders, the government on Monday proposed to levy a total tax, penalty and surcharge of 50 per cent on the amount deposited post demonetisation while higher taxes and stiffer penalty of up to 85 per cent await those who don't disclose but are caught.

Additionally, a 10 per cent penalty will be levied on the undisclosed income and surcharge called PMGK Cess at the rate of 33 per cent of tax (33 per cent of 30 per cent).

Currently, the penalty is 10 per cent of the income, if the income is admitted, returned and taxes are paid. Penalty is at 60 per cent in all other cases.
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