-Business Standard / PTI Only about 1% of total assessees might be probed; warning against parking cash in others' accounts Hobbling with a paucity of staff, the income tax (I-T) department might find it difficult to assess more than 600,000-700,000 cases a year, though the government has suggested that people depositing a minimum of Rs 2.5 lakh cash in their bank accounts during the ongoing demonetisation drive will come under scrutiny. On Sunday,...

-The Times of India NEW DELHI: The aam aadmi putting up with the widespread distress and economic loss caused by declaring invalid all Rs 500 and Rs 1,000 currency notes sees a positive side to the move — it will unearth and stamp out black money. This is one of the stated objectives in the government's notification of November. There is also the target of finishing off fake currency, which harms...

-The Hindu Gopal Singh of Lamdegadh hamlet, which crowns a hill of Chamoli district near the Kumaon-Garhwal border, has to walk 8 km to reach the nearest motorable road. Chamoli (Uttarakhand): In sleepy Uttarakhand villages, tucked away inside lush green forests far from motorable roads, there has been a sudden burst of activity for a few days now as people rush out of their houses in the early hours each day, hoping...

-Business Standard When you start using digital payment options, your household budget is likely to shoot up The government’s demonetisation drive has caused a cash crunch, forcing people to look at plastic money and other forms of digital payments. But, for a society accustomed to physical notes, the transition to cashless comes at a cost. Many households are likely to see their budgets shoot up as they pay more at merchant establishments...

-The Economic Times Farmers accustomed to decades of government policy failure are willing to bear the pain caused by the government’s decision to recall Rs 500 & 1000 bills, but engineering a systematic failure of the rural cooperative banking sector would be an unpardonable desecration. Earlier rural bank branches were given a step motherly treatment: Rural cooperative bank branches were not replenished with lower denomination currency, while the newer higher denomination notes...