It was recently brought into vision that the monetary functionality has been deeply affected on the basis of the real state business and property tax economy where the large amount of black money has been infiltrated by certain vendors and other contractors. It has now taken into account by the Indian present Finance Minister Arun Jaitley that no, any contract machinery should be permitted to hold with above than 5 thousand as a cash transfer or transaction in the context of trade and municipal status indeed.
The finance minister has justified in a certain statement to all ministries that it should be deeply taken into the concern with immediate process and certain accuracy in this a relation so an urgent need to supply stop in the black currency market flow can be taken into implement also. It has already been taken as a valid signatory point by the present central government and it's economic the power that the black money's core is on the move in this field after the demonetization.
The finance minister also adjudicated that it would be the mere duty of all departments that are attached to the real status, construction and building finance that they should eye through regional agency and their heads to look after whether the idea should be properly implement in its core so no any cheats can be reported whether in it's own governmental real estate sector or outer real state sector after the statement in which above 5 thousand cash transfer and transaction to any vendor or contractor would be abided by law in the nationwide scenarios at large.
It was earlier due in August by August settlement 2015 between government and contractor that no monetary charges above than 10,000 would be made legally mandatory, thus its decrease to 5,000 would surely affect their lifestyle but we are yet to look out their response on this statement though.
In this way the present economic legislative preview would like to grab their hold on by bringing this certain due into impact, but how far this would be a valuable role in field of control in the bare house of Black money supply in the core of the property trade is yet to find out with it's effect and impact to the dealers in the world of property trade. Till we can only hope that Indian government continues to fight against the black money supply and make it's their priority to clear out loopholes as far the certain dues and legal activities for the economic proceedings are concerned though...
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