BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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TRUE
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FALSE
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Detailed explanation-1: -Demonetisation is viewed as a tax administration measure. Cash holdings arising from declared income was readily deposited in banks and exchanged for new notes. But those with black money had to declare their unaccounted wealth and pay taxes at a penalty rate.
Detailed explanation-2: -Features of Demonetization are: Measure of tax administration-black money holders had to declare the unaccounted wealth and pay taxes at penalty rates. Measure to avoid tax evasion-indicating the government will not tolerate tax evasion.
Detailed explanation-3: -Tax Administrative Measure: Demonetization is regarded as a tax administration measure. People who had cash on hand as a result of their declared income quickly deposited it in banks and exchanged it for new currency.
Detailed explanation-4: -Development of a less-cash economy.