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This would not affect the small merchants and dealers because they usually don't have excess money lying around. These are people who are making a small profit
by pallavkaushish 10y ago
This would not affect the small merchants and dealers because they usually don't have excess money lying around. These are people who are making a small profit from their small business.
Under the rule, anyone who is paying their taxes and have done things legally, have nothing to worry about. They can submit all the 500, 1000 rupee bills directly in their account (no limit), if they've paid taxes on it. If they haven't paid taxes on it, they will be taxed in the current financial year but then government will also have the liberty to ask the source of your income which can land you in trouble if you're unable to show a legit source.
- ss192 10y agoThis would not affect the small merchants and dealers => I slightly disagree with you, I believe this is going to affect retail market, small time merchants, food and construction industry, at least for the next few weeks.
- pallavkaushish 10y agoIt will affect only because there wouldn't be enough new bills in the hands of people to spend. Once the sufficient amount of new bills are circulated in the market, it will all be back to normal. But there won't be any long term affect.
- legolas2412 10y agoPeople should be able to handle this for a couple of weeks, based on credit/loans and borrowing.