After PM Modi demonetization move the black money holders are finding different ways to convert their black money into white. We come across various instances made to convert the black money. One of the is depositing money into third party account and offering them some commission.

Amidst of such scenario, two charter planes have landed at Nagaland’s Dimapur airport with Rs.3.5 crore in crisp but old Rs.500 and Rs.1000 currency notes on board. Amarjeet Kumar Singh, a businessman, had on Tuesday flew from Hisar to Dimapur with Rs.3.5 crore cash in demonetised Rs 1,000 and Rs 500 notes.

Also Read: Rajdeep Sardesai Said This About Demonetization And Got Badly Trolled

Dimapur airport director M Zhimo said: “The airport’s chief security officer had received a call from higher officials who informed him about a suspected case of cash-carrying. Accordingly, the IT department was tipped off. Later, when the plane landed here, the IT officials checked a bag, which the passenger was carrying, and seized Rs.3.5 crore.”

Why In Nagaland ?

As per the reports, the cash allegedly belongs to a businessman from Hisar who wanted to deposit it in the accounts of the locals to exempt himself from the tax laws. Because, as per the laws laid by the Income tax department, scheduled tribe communities in Assam, Nagaland, the Khasi Hills, Manipura, Tripura, Garo Hills, Arunachal Pradesh and Ladakh in Jammu & Kashmir are exempted from paying income tax.

“According to CISF, (one) Anato had come forward to claim the money but we shall have to ascertain it,” Lotha said. Anato is a young Naga businessman and son-in-law of Lok Sabha MP and three-time former Nagaland Chief Minister Neiphiu Rio. He was said to be at the airport when the plane had landed.

Isn’t it a loophole for black money holders in the system to protect their black money ? What do you suggest to reduce such practices ? Do share your views in the comment session below.

Also Read: How & Where To Spend Your Old 500 & 1000 Notes