Currency ban: Temples get richer as commoners suffer
- Earlier the government declared that temple donations would not be questioned by the authorities.
- Ayodhya, Pune, Kolkata temples are overflowing with donation money.
- IT department sent notices seeking details of donations till currency ban.
FollowThe last eight days has been trying times for the common man in India, as demonetisation led to major cash crunch across the country. Queues outside the ATMs and banks, multiple deaths, robbery, reports of fake new ₹2000 everything related to currency ban has make it to news headlines.
While announcing the demonetisation of ₹500 and ₹1000 currencies, the government also declared that temple donations would not be questioned by the authorities. This news seems to change the hearts of the black money hoarders who became extra religious.
As a result temples and other religious and charitable institutions saw a huge rise of temple donation across the country.
In an earlier report, we mentioned that donation boxes in Ayodhya, Pune, Kolkata temples are overflowing and according to a recent report, Mumbai's Siddhivinayak temple saw a 70% hike in its donation box.
According to a report in The Times Of India, when the temple hundi was opened six days after the currency ban, it saw ₹60 lakh donation in banned notes. On any other week, this amount is ₹30 to ₹45 lakh which means people donated double the amount.
The richest temple in India, Tirumala Tirupati Devastanams, has reported have been receiving ₹2 crore to ₹2.5 crore daily in last few days.
People seemed to have taken the religious way to get rid of their black money and make the rich temples already richer.
In view of this, the Income Tax Department has finally issued notices to charitable and religious organisations across India to notify the department about the cash balances till 8 November, the day ₹500, ₹1000 was banned.
The notices were sent to check on possible "accommodation" of black money in banned currency notes through donations to such organisations. The notices have been sent to all tax-exempted organisations including religious organisations, NGOs, as well as educational institutions as a precautionary measure to prevent them from facilitating black money.
As per the notice, these institutions have to submit the donation records from between 31 March to 8 November. The IT department will examine the details and documents post 30 December.
