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Just my 2 cents: I have an Indian friend whose dad owns a college. When Demonetization happened, his dad asked all of his students to take cash and deposit into
by jakidud 8y ago
Just my 2 cents: I have an Indian friend whose dad owns a college. When Demonetization happened, his dad asked all of his students to take cash and deposit into their account, and afterwards transfer into his account. To incentivise them he told them they would get a discount on college fees(off the books, ofc) for each cash deposit. Students were lining up all day for weeks to make deposits, many even got a lot of family members as well.
Another friend's family opened a luxury car dealership overnight, buying cars wholesale from legitimate car dealers who could then pass off any income as legitimate.
I'm very skeptical when anyone says black money was affected significantly by Demonetization.
- potlee 8y agoThis sounds suspicious. All these transactions are traceable now and it should be much easier for the income tax department to find out. No one in hier right mind would have so many people send money to their bank accounts like this.
- srean 8y ago> be much easier for the income tax department Question is did they. This entire thing was a stage managed farce to inconvenience political opponents. Citizens were collateral damage.
- deleted 8y ago[deleted]
- jakidud 8y agoJust asked my friend: apparently they used the college fees account. They were getting a lot of money transfers anyway so it's not such a bit deal at face value And since no one really raised any alarms during DeMo, no one really investigated further.