Prime Minister Narendra Modi surprised the whole country by discontinuing Rs 500 and Rs 1000 notes in the country. With the introduction of Rs 2000 notes, the currency crisis in the country got increased however the Income Tax Department has been conducting massive raids and a record breaking amount of Rs 2900 crores has been seized in the recent times. The government gave an offer for all those who had black money in bulk to deposit and make the amount white.
The government came out with a call once again for the last time for all the black money holders to come out and declared the unaccounted money. The government also revealed that the offer will be open till March 31st next year. All those can come by paying 50% of the unaccounted income as tax to the government and 25% of the total will be locked in interest-free bonds which can be recovered after four years and the rest 25% will be given in new notes.