https://www.taxtmi.com/news?id=17235 Demonetisation removed specified high denomination currency to deprive cash based black money of anonymity and to bring such funds into the banking and tax net. Deposits of formerly anonymous notes do not legitimise them; loss of anonymity enables identification, assessment and application of differential taxation and penalties under amended tax rules. Remonetisation through banks increases low cost deposits, can lower lending rates, expand formal transactions and create scope for higher direct and indirect tax mobilisation. en-us Mon, 09 Jan 2017 13:08:35 +0530 Mon, 09 Jan 2017 13:08:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17235 Demonetisation removed specified high denomination currency to deprive cash based black money of anonymity and to bring such funds into the banking and tax net. Deposits of formerly anonymous notes do not legitimise them; loss of anonymity enables identification, assessment and application of differential taxation and penalties under amended tax rules. Remonetisation through banks increases low cost deposits, can lower lending rates, expand formal transactions and create scope for higher direct and indirect tax mobilisation. News - Mon, 09 Jan 2017 13:08:35 +0530 https://www.taxtmi.com/news?id=17235