Why did govt go after cash component of black money? It only accounts for 5% of total tax evaded income

Why did govt go after cash component of black money? It only accounts for 5% of total tax evaded income Mohan Guruswamy When he made that dramatic announcement on 8 November 2016 extinguishing all existing Rs 500 and Rs 1000 notes, Prime Minister Narendra Modi stated three major objectives of this sudden and draconian announcement. The first was to force the 'black money' back into the formal system. The second was to filter our counterfeit notes, and […] The post Why did govt go after cash component of black money? It only accounts for 5% of total tax evaded income appeared first on Firstpost. FirstPost Unsubscribe from these notifications or sign in to manage your Email Applets.