An important step by Govt to curb Blackmoney: CBDT Chief

The demonetisation of Rs 500 and Rs 1,000 currency notes is a “very good step” to curb the menace of black money and will help check stashing of funds to a large extent, the CBDT chief today said as the department prepares to keep an eye on any suspicious transcation.“This is a very important step. This decision shows that the government has no tolerance for black money,” Central Board of Direct Taxes Chairman Sushil Chandra told PTI.