yes of course and i believe that you saw what happened to demonetization and how many people got suffered and still suffering without job/lost their job. Did the black money disappeared?
About that step, my parents withdraw about 2 lakhs per month from a particular bank account which is their salary account. Then what should they do now? Only option left is kept that money idle in that account or increase their gpf per month premium massively.
Worst worst step if that happens. First tax in income then tax of taxed money for withdrawal!
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