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Income Tax raids in Delhi and Mumbai after PM Narendra Modi Bans Rs 500 and Rs1000 Currency Notes

Raids were conducted in Delhi, Mumbai and some other cities based on reports of tax evasion by converting the older notes into other forms by illicit methods

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1000 rupee notes. Pixabay.

New Delhi, November 11, 2016: The sudden demonetization in India has left many perplexed. While there are many who are struggling to get their currency notes exchanged, others are trying to salvage every last rupee from their illegal hoards.

In a masterstroke move, Prime Minister Narendra Modi announced the ban on the current 500 and 1000 rupees notes on November 8. This action was undertaken with the focus on to curb the unaccounted riches.

PM Modi tweeted, “I assure you the government is unwavering in its effort to create an India that is corruption free and fruits of development touch every citizen”.

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This has led to people flocking to banks to exchange their redundant notes for the new currency notes but many have resorted to illegal means due to the fear of investigation as a bank deposit worth more than 2.5 lakhs will undergo heavy scrutiny.

Raids were conducted in Delhi, Mumbai and some other cities based on reports of tax evasion by converting the older notes into other forms by illicit methods. Many traders have shut down their stores in fear of tax raid.

Money
PM Modi speaks about the discontinuation of Rs. 500, 1000 Notes. Youtube

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The Income Tax department has asked the investigation units in the country to keep an eye out for suspicious transactions in cash. The department claims, the actions they took were a part of a normal regular survey performed to curb such illegal practices. Items are bought at a much higher price and the hawala dealers (money launderers) exchange the cash for international currencies at unbelievably high rates.

New Rs 2000 note. Yahoo
New Rs 2000 note. Yahoo

Raids were conducted in Delhi, Mumbai and in some cities of Punjab after receiving reports saying that traders were accepting Rs 500 and Rs 1000 notes, which were no longer useful, to sell Gold at Rs 50000 per 10 grams and apart form that the dollar is soaring up to a 100 dollars in the hawala market.

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These radical steps taken to eliminate the biggest issue in India is a bold step. Centre has a clear intent to minimise corruption and black money.

However, Corruption on a larger level may not have anything to do with cash. This makes it possible for corruption to still be prevalent in spite of all the steps taken. The ban is also implemented to reduce counterfeits as they are printed in abundance and fund the destruction of a country.

– by Shivam Thaker of NewsGram. Twitter: @Shivam_Thaker

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7 out of 10 Women Cheat on Spouses in India: Survey

The survey also showed that in India, homosexual people trapped in traditional marriages also finding same-sex partners in growing numbers

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Seven out of 10 women in India cheat on their husbands because they do not take part in domestic chores and the similar number of women turned unfaithful because their marriage had become monotonous, a survey by extra-marital dating app Gleeden said on Tuesday.

In a survey titled “Why do women commit adultery”, Gleeden, which has over 5 lakh users in India, revealed that metros, like Bengaluru, Mumbai and Kolkata, have the maximum number of women who cheat on their spouses to escape unhappiness, ignorance, neglect in marriage and husbands’ non-involvement in household chores.

“Four out of 10 women on Gleeden said flirting with strangers led to greater intimacy with their spouses, which means infidelity can be helpful in re-sparkling a dead marriage,” Solene Paillet, Marketing Specialist, Gleeden told IANS.

Of the 5 lakh Indian Gleeden users, 20 per cent men and 13 per cent women admitted of cheating on their spouses.

Primarily marketed to women — specifically those who are in relationship — Gleeden app was launched in France in 2009. It arrived in India in 2017 and today, 30 per cent of its members in India are married women in the age group of 34-49 years.

choosing partners, expectations of spouses
Representational image. Pixabay

Nearly 77 per cent of Indian women who chose to cheat on their husbands reasoned that their marriage had become monotonous and finding a partner outside marriage allowed them to add excitement to their lives.

“By creating a platform specifically dedicated to married women, Gleeden has catered to the monotonous and diluted lives of lakhs of women in India, where nearly three fourth of its members who engage in infidelity have no regrets whatsoever,” Paillet said.

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According to the survey, nearly 48 per cent Indian women who decide to have an extramarital affair, prefer to meet men on extramarital dating sites because they offer safety, privacy and security that is absent in real life.

The survey also showed that in India, homosexual people trapped in traditional marriages also finding same-sex partners in growing numbers. (IANS)