With the demonetization old currency has been declared illegal,then why the Government is taking action against those who are caught with old currency ? Can any body throw light on this? more
Viewed by 24
Thanks for the response but the point which i mentioned is still not clear to me. I think I was not able to communicate properly. What you have mentioned is past now. " As the value of old notes is nil, now what is the purpose of confiscating the old notes . These cannot be deposited in a bank and in the market its value is nil" more
Mar 14
Its a long drawn process-there are jewellers who did money laundering by making fake billing,there are petrol pump /lpg dealers who did this by depositing excess money as compared to their sales invoices,there are individuals deposited money @2.5 lakhs /account on 20 accounts with the same pan numbers,incidentally all the bank accounts has been linked up with pan(except basic jandhan account with max annual business of 1lakh PA)there are 5 lakhs people found deposited >5 lakhs at least in accounts with pan number and they are not filling returns at all-the lists and ways of money laundering is mind boggling -as it turns out to be Indians are very smart manipulators -this will definitely be a very long drawn procedure with many litigations and the clearing of this process may take more than 2 years may be. more
Mar 09
