Money Withdrawn 500 and 1,000 rupees, Indian Farmer Suicide - A farmer in southern India committed suicide for fear he will become poor after the government withdrew the circulation of currency with high denominations.
Kandukuri Vinoda (55), has a stack of banknotes 500 and 1,000 rupees at his residence. She panicked after the government withdrew all denominations of 500 and 1,000 rupee from circulation.
"The family said he panicked after hearing the government's decision and then he hanged himself," said Raj, a local police officer.
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Vinoda, residents Mahabubabad district, east of the city of Hyderabad, the last month sold a piece of land worth 5.5 million rupees, or about $ 1 billion.
Proceeds from the sale of land was Vinoda got a pile of cash that some of the money has been used to pay for her medical expenses.
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Vinoda even have plans to buy a new piece of land with the rest of the money. Similarly, local media reported.
Most of the Indians who live in rural areas are still used to store large amounts of cash in their homes because of the difficulty of access to the bank and also to avoid the tax.
However, the government of Prime Minister Narendra Modi decided to withdraw bills 500 and 1,000 rupees in the fight against corruption and bribery.
The previous government had made it clear that this policy should only affect those who evade taxes.
Earlier this year, the government held a tax amnesty, which lasted for four months. As a result, citizens of India delivered approximately 10 billion US dollars of their assets that had been hidden.
However, this scheme ended last month, and now anyone who stores large amounts of money and no report will be penalized up to 200 percent of the tax value of the real.
Tags: Rupe, Indian Famer
Kandukuri Vinoda (55), has a stack of banknotes 500 and 1,000 rupees at his residence. She panicked after the government withdrew all denominations of 500 and 1,000 rupee from circulation.
"The family said he panicked after hearing the government's decision and then he hanged himself," said Raj, a local police officer.
See Also: Appearance Section Melania Trump in Screen Glass, Beautiful
Vinoda, residents Mahabubabad district, east of the city of Hyderabad, the last month sold a piece of land worth 5.5 million rupees, or about $ 1 billion.
Proceeds from the sale of land was Vinoda got a pile of cash that some of the money has been used to pay for her medical expenses.
See Also: The fate of America After Obama, forecast Buta So Terrible Penujum Talks
Vinoda even have plans to buy a new piece of land with the rest of the money. Similarly, local media reported.
Most of the Indians who live in rural areas are still used to store large amounts of cash in their homes because of the difficulty of access to the bank and also to avoid the tax.
However, the government of Prime Minister Narendra Modi decided to withdraw bills 500 and 1,000 rupees in the fight against corruption and bribery.
The previous government had made it clear that this policy should only affect those who evade taxes.
Earlier this year, the government held a tax amnesty, which lasted for four months. As a result, citizens of India delivered approximately 10 billion US dollars of their assets that had been hidden.
However, this scheme ended last month, and now anyone who stores large amounts of money and no report will be penalized up to 200 percent of the tax value of the real.
Tags: Rupe, Indian Famer
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