Cash Crackdown Escalates: India May Impose 60% Tax On “Unaccounted” Deposits, Curbs On Gold Holdings

by Tyler Durden
ZeroHedge.com
Nov 25, 2016

The scrambling Indian government is taking even more aggressive steps to part savers with their allegedly “laundered” cash, and according to overnight news, the latest proposal is to levy close to 60% income tax on unaccounted deposits in banks above a threshold post demonetisation of high-denomination currency notes. Concurrently, the Indian government may also impose curbs on domestic holdings of gold as the war against “black money” escalates.

The Rest…HERE

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