INCOME TAX RAIDS ON JEWELLERS-HOARDERS AND HAVALA MERCHANTS ACROSS THE COUNTRY


THE IMPACT OF DEMONITISATION OF RS.500/- AND RS.1,000/-

      Due to unprecedented hoarding and havala transactions in Mumbai, Delhi, Jullandhur, Ludhiana and other cities, the Income Tax Department has raided few merchants and are in the process of monitoring few more.

The jewellers, specially from Chennai T.Nagar and Mumbai will be under scrutiny and it is rumoured  that RAW GOLD is not readily available  in major cities as there is large scale hoarding by black money holders.