Rahul Mehta Gandhinagar LsCandidate

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Going rate of Rs 500 of old notes = Rs 400 of new notes
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The rate at which old notes are going back to bank, very soon, Rs 500 old note will fetch Rs 600 of new notes !!!
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Firstpost says that out of Rs 14.5 lakh crores of old notes, some Rs 11 lakh crore have come back to banks.
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So only Rs 3.5 ;lakh of old notes left !! And we have 28 more days to go !!!
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If over Rs 13 lakh crores come back, then gains of round-1 are below the costs of even currency printing , distribution , extra payments to bank staffs, deemed costs of policemen etc
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Now income tax officers can go overtime sending notices and harassing people rightly or wrongly !!!
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Most unusual cash deposits are below Rs 2 lakh per person. (unusual deposit = deposit which doesnt match with deposit pattern of past 3 years. eg a legitimate business may be depositing Rs 10 lakh every year, and in such cases, deposit of below Rs 12 lakh is NOT unusual).
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So I dont know how income tax will get even a penny !!!
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My guess is --- we will see one more income tax round, with tons and tons of harassments
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And in jan-2016, NaMo will void rs 2000 notes. So black money hoarders will go on another merry go round chase.
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