Demonetization Archives - H&R Block| Blog

Demonetization

September 12, 2017

Advantages and Disadvantages of Demonetisation

It has been almost a year since government demonetised 500 and 1,000 rupees notes. It was a major decision which had its impact on all sections of the society. Now, everyone wants to know if it was a masterstroke by the government or a setback […]
March 9, 2017
Remonetization of Currency in India

Remonetisation Begins: Banks Charging Cash Transactions

Effects of demonetisation have almost faded but it has catalysed the process of India’s digitisation. With the beginning of remonetisation, new measures to promote digitisation are being introduced by the government & financial institutions. Some private sector banks namely HDFC, ICICI & Axis bank have […]
January 31, 2017
Will Demonetisation Boost Budget 2017

How Demonetisation and Other Schemes are Going to Boost Union Budget 2017?

Government launched its demonetisation scheme on November 8 last year with the several objectives. A major objective was to demolish parallel economy. However, what started off as a war on black money eventually became a movement to make India a digital economy. In the beginning, […]
January 25, 2017

PAN Card Required for Cash Deals Exceeding Rs. 30,000

The government is planning to use Union Budget 2017-18 to take India closer to becoming cashless economy. Recent reports suggest that government may lower the threshold limit of Rs. 50,000 applicable on cash transactions. The revised limit is expected to be Rs. 30,000. In the […]
January 23, 2017

Impact of Demonetisation on Union Budget 2017 Preparation

Government’s preparation for Union Budget 2017-18 is nearing its climax. Expectations are being raised, predictions are being made. However, any hope and prediction for this budget cannot be made without analysing the impact of demonetisation on it. Demonetisation has affected several industries, and its financial […]
January 17, 2017

Advantages and Disadvantages of Going Cashless

Government is trying to create a cashless environment in the country. Demonetisation appears to be a stepping stone in that direction. To help facilitate this, government even launched its own app BHIM built for the same purpose. It even came up with a number of […]
December 22, 2016

How Long will Cash Crunch Last?

It has been more than a month since government demonetized old currency notes of denomination 500 and 1,000. Nonetheless, people are still lingering with the resulting cash crunch. Government has asked people to bear the pain for 50 days but the prevailing situation has left […]
December 22, 2016

Deposit Limit of Rs. 5,000 for Non-Compliant Accounts

Government had given approximately 50 days to people to deposit their old currency notes in the banks post announcement of Demonetisation scheme. Those who got rid of their old notes are breathing a sigh of relief but the notification spelled trouble for procrastinators. As per […]
December 14, 2016

Demonetisation Gives Birth to Innovative Laundering Methods

From Black Money Act and Income Disclosure Scheme to Demonetisation scheme, government has left no stone unturned to demolish parallel economy. However, hardcore tax evaders have taken this as an opportunity to come up with new and increasingly innovative ways to launder cash. Some of […]
November 29, 2016
old Rs.500 notes

Demonetisation: Proposed Revision of I-T Act and Validity Extension of Old Rs. 500 Notes

Government has planned to introduce amendments in the Income Tax Act to nab those who are depositing their undeclared income into bank accounts post 8 November. Government has used several tactics so far to flush out black money from the system but every time black […]