Don't Destroy, Donate to Poor
Following the revolutionary decision of the govt. to scrap the high denomination currency, it was expected that the black money will flow into the cashbox of the govt. The money of course is coming out, to some extent, but surfacing in garbage yards instead.
In the past few days, several cases of currency found in burnt form, garbage etc. have been reported across the nation. The other day, bundles of currency floating in the Yamuna River was witnessed. This scenario is also leading to violence with locals fighting to get a hold of the found currency notes.
Black money holders are unwilling to go to banks as any deposit more than Rs 2.5 lakh will be reported to the tax department and a 200 per cent penalty will also be imposed on the evaded tax. In that case, any person with unaccounted money will be losing close to 90 per cent of the amount, so who would dare to put his name and fame at risk just to save 10 per cent of the stash?
The high class people are reportedly making use of legal loopholes to somehow come out of the net of tax inspector. Those who cannot afford such ideas are resorting to destroy the currency using various means. Instead of doing this, one can donate to the poor, drop cash at govt. hospitals, old age homes and orphanages etc. These people would neither question nor report to authorities, instead pray for the wellbeing of donators
In the past few days, several cases of currency found in burnt form, garbage etc. have been reported across the nation. The other day, bundles of currency floating in the Yamuna River was witnessed. This scenario is also leading to violence with locals fighting to get a hold of the found currency notes.
Black money holders are unwilling to go to banks as any deposit more than Rs 2.5 lakh will be reported to the tax department and a 200 per cent penalty will also be imposed on the evaded tax. In that case, any person with unaccounted money will be losing close to 90 per cent of the amount, so who would dare to put his name and fame at risk just to save 10 per cent of the stash?
The high class people are reportedly making use of legal loopholes to somehow come out of the net of tax inspector. Those who cannot afford such ideas are resorting to destroy the currency using various means. Instead of doing this, one can donate to the poor, drop cash at govt. hospitals, old age homes and orphanages etc. These people would neither question nor report to authorities, instead pray for the wellbeing of donators
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