New steps after current situation.
It's way we have protect after New Notes circulations. more
1. Buyer to get reduction of 0.5% in Govt.due/tax component.
2. Ensure real time transfer of Govt.due/Tax to Govt. A/c.
3. Free seller from filing tax return unless there is a dispute. more
However, a few things have got to be highlighted at this very time that might render these steps redundant in the following circumstances:
1) This government has not taken steps to plug the loopholes in the rules, procedures, and system of governance that generate the black money. This will re-create the same condition of unaccounted money in the market that we have been experiencing so far.
2) There is a torrent of whispering talk that the BJP government leaked to their cronies in the business and its RSS officers as also the BJP office well before the announcement of the denomination of Rs.500/1000 notes, which, I hope, is not correct. If it is correct, then it will go against the BJP (NDA) government as a measure to eliminate competition from the parties in Opposition because around the next election time they would be starved of the hard cash needed for campaigning.
3) Verification of cash with the employees at the year end, will discourage them to take effective steps to govern diligently.
Still, I am very happy with the current decision to demonetise the currency despite it is causing tremendous inconvenience to the citizens. more