Question

how is it useful for the people of Demonetization in india​

Answer 1

Answer:

ᴛʜɪꜱ ɪꜱ ᴏɴᴇ ᴏꜰ ᴛʜᴇ ᴍᴀᴊᴏʀ ᴀᴅᴠᴀɴᴛᴀɢᴇꜱ ᴏꜰ ᴅᴇᴍᴏɴᴇᴛɪᴢᴀᴛɪᴏɴ. ᴛʜᴇ ᴅʀᴀꜱᴛɪᴄ ᴍᴏᴠᴇ ᴄᴀɴ ᴄᴏɴꜱɪᴅᴇʀᴀʙʟy ʀᴇᴅᴜᴄᴇ ᴛᴀx ᴀᴠᴏɪᴅᴀɴᴄᴇ. ᴡʜᴀᴛᴇᴠᴇʀ ᴍᴏɴᴇy ɪꜱ ᴅᴇᴩᴏꜱɪᴛᴇᴅ ᴏʀ ᴇxᴄʜᴀɴɢᴇᴅ ᴡɪʟʟ ʙᴇ ᴋᴇᴩᴛ ᴛʀᴀᴄᴋ ᴏꜰ, ʙy ᴛʜᴇ ɪɴᴄᴏᴍᴇ ᴛᴀx ᴀᴜᴛʜᴏʀɪᴛɪᴇꜱ. ᴛʜɪꜱ ᴡᴀy, ᴍᴏʀᴇ ᴀɴᴅ ᴍᴏʀᴇ ᴩᴇᴏᴩʟᴇ ᴡɪʟʟ ʙᴇ qᴜɪᴛᴇ ʜᴇꜱɪᴛᴀɴᴛ ᴛᴏ ɪɴᴠᴏʟᴠᴇ ᴛʜᴇᴍꜱᴇʟᴠᴇꜱ ᴡɪᴛʜ ᴛᴀx ᴀᴠᴏɪᴅᴀɴᴄᴇ ᴛᴀᴄᴛɪᴄꜱ

Answer 2

This is one of the major advantages of demonetization. The drastic move can considerably reduce tax avoidance. Whatever money is deposited or exchanged will be kept track of, by the income tax authorities. This way, more and more people will be quite hesitant to involve themselves with tax avoidance tactics.