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Now, Black Money converted into Dollars!
By: Tupaki Desk | 17 Nov 2016 6:50 AM GMT
Black Money holders are finding new ways to covert crores of Unaccounted Money into White every time Income Tax Department tries to disappoint them.
After the launch of Demonetization drive, Several big shots have invested on gold biscuits and jewellery. The cost of 10 grams Gold has gone up to Rs 50,000 from Rs 30,000 during this period. As the IT Sleuths began focussing on such illegal transactions, Tax Evaders have moved to their next option.
Currently, The Super Rich have been converting the Black Money they have into American Dollars. Actually, A Dollar is worth 67.78 INR. Tax Evaders have been now paying Rs 30 more for obtaining each dollar. Rs 100 is being paid for each dollar now in the Black Money market. In that way, The corrupt people are minimizing the damage caused by Demonetization as much as they can. As a result, Demand for foreign currency has grown hugely in the recent past.
After the launch of Demonetization drive, Several big shots have invested on gold biscuits and jewellery. The cost of 10 grams Gold has gone up to Rs 50,000 from Rs 30,000 during this period. As the IT Sleuths began focussing on such illegal transactions, Tax Evaders have moved to their next option.
Currently, The Super Rich have been converting the Black Money they have into American Dollars. Actually, A Dollar is worth 67.78 INR. Tax Evaders have been now paying Rs 30 more for obtaining each dollar. Rs 100 is being paid for each dollar now in the Black Money market. In that way, The corrupt people are minimizing the damage caused by Demonetization as much as they can. As a result, Demand for foreign currency has grown hugely in the recent past.
