This Indian Businessman Has Surrendered ₹6,000 Crore In Cash.

PM Modi ruffled some feathers when he decommissioned ₹500 and ₹1,000 notes for transactions in the country this past week.

By not giving people ample time to process their cash into notes of ₹100s or less, PM Modi made lakhs of crores worth of black money useless.

But this change (little pun intended) has come at a big cost to the regular citizen of the country

From standing in long queues for hours at the bank to arranging for urgent cash for an impending family function, Indians have been through it all these past few days and they don’t seem too happy with their lack of choice.

However, it seems that PM Modi’s masterstroke is finally yielding some results as we’ve been getting news of bags full of ₹500 and ₹1,000 notes have been discovered in various parts of the country.

These stranded bags are deemed to be the black money that their owners couldn’t turn into white money as the cash limit for one transaction at the bank is only ₹4,000 for now.

A businessman from Surat (Gujarat) has just surrendered a staggering sum of ₹6,000 crore in cash to the government.

In addition, the businessman will also pay ₹5,400 crore as tax on the money deposited by him (30 % as tax, which is ₹1,800 crore and 200% fine on the tax, which is another ₹5,400 crore).

This honest businessman is Surat’s famous diamond merchant and builder Lalji Bhai Patel. He has been donating to charities and social causes over the past years.

Lalji Bhai Patel is most famous for buying PM Modi’s suit-jacket with his name embroidered on it.

Just this past February, Lalji Bhai Patel made the news headlines by donating ₹200 crores for educating the girl child in the country. He’s also famous for giving out cars and residential flats to his employees on Diwali (not to be confused with another Surat businessman Savji Dholakia who also does this).

Although it’s a very high amount of surrender, economists believe this sum is not nearly as big as black money surrenders could get in the country.

We hope our government will put this honest businessman’s selfless contribution to a good use.

Source:- Being Indian.com