Modi Demonetization Tax Calci

Prime Minister Narendra Modi reported demonetization of Rs.1000 and Rs.500 notes to battle against the danger of black money. People are allowed to exchanged their currencies and deposit their old currency notes via banks and post office. Cash deposit of more than 2.5 lakhs would face a tax penalty ranging from 50 - 200 % as per Section 270A. Make use of this online tool to find the tax amount and penalty amount you need to pay for your cash deposits.