Unaccounted deposits after November 8 to attract heavy taxes
Friday, November 25, 2016 IST
The Cabinet on Thursday is accepted to have talked about changing laws to impose near 60% pay assess on unaccounted stores in banks over a limit post demonetisation of high-group coin notes.
The move comes in the midst of banks reporting over Rs 21,000 crore being kept in zero-adjust Jan Dhan accounts in two weeks after the 500 and 1,000 rupee notes were banned, which authority secure might be the laundered dark cash.
There was no official instructions on what happened in the meeting that was called at short notice as Parliament is in session. Customarily, there could no exposures outside on any strategy choice taken amid the sitting of Parliament.
Sources said the administration was quick to expense all unaccounted cash stored in financial balances after it permitted the banned coin to be kept in ledgers amid a 50-day window from November 10 to December 30.
There have been different articulations for the benefit of the legislature as far back as the demonetisation plan was declared on November 8, which has prompted to fears of the taxman descending vigorously on suspicious stores that could be made to launder blackmoney.
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