Dec 31st Prime Minister Narendra Modi gave good news to all the people who are honestly paying income tax. After his speech people got the right idea about Demonetization and the after effects. There were lot of wrong speculations about this move and below is the false news that is still being circulated in social media and other digital channels. Please ignore that news, it is fake and it was circulated only to cause panic in the nation.
The new 2000 notes to be banned – People have found a way to turn their old notes to new pink notes. Government to ban new notes, therefore people will lose their currency once and for all.
E Property Passbook – Rumour says that an electronic passbook will be launched in New Year that will eradicate properties that have been encroached upon illegally.
Political Parties are best to hide black money – Political parties receive funds from various sources and these donations are not taxable by the government.
Reduction in Income Tax – After Finance Minister Arun Jaitley’s recent speech, media published news saying Finance Minister hints that IT on corporate and individuals might reduce.
Demonetization a move to encourage Digital Wallet Startups – People said that demonetization has no connection with terrorists; it is only a move to help Digital Wallet Startups to improve their business.
Gold Rule – Government to stop manufacturing and import of Gold so that people cannot hide black money in the form of gold
Locker Rule- Government officials to spy on people who are operating lockers in banks. This move will give indirect access to IT into People’s lockers.
Property registration rule – till demonetization is stabilised all properties registered post 8th November will be void.
Property prices – Property prices in cities will fall down due to chocking of black money.
Interest rates – Rate of interest on vehicle and personal will reduce, so do not take any loans till the new interest rates comes in.
Narendra Modi’s speech devaluates all the above mention news. Demonetization is a move for the nation by the nation. Read more News on Demonetization.