Re:India's demonetisation of Rs. 500 and Rs. 1000 notes
by murukesh_s on Tuesday November 08, 2016 @12:11PM
(#12901975)
He can still pay tax and get away.
[ Parent
| on HN ]
Re:India's demonetisation of Rs. 500 and Rs. 1000 notes
by parennoob on Tuesday November 08, 2016 @02:00PM
(#12902952)
If he (and by extension thousands more) pay tax, then there's no "get away" involved – the transaction has been done fairly and the Govt. got the requisite amount of tax.
The point is, if he has been doing this for 10 years and has a massive stack of cash which he tries to deposit now, that is going to bring him to the attention of the Income Tax authorities.