Code of conduct: Trouble for businessmen as restrictions imposed on carrying cash above Rs 50,000

LUDHIANA: In a setback for the businessmen of the town after code of habits of elections used to be enforced on Sunday, strict norms of wearing money have come into effect which can remain into position for more than two months until the election results are out. As in line with the code of habits for movement of money above Rs 50,000 the cash holder will have to raise evidence of the legitimacy of the cash else action will likely be taken via authorities in opposition to the individual.


District election officer cum deputy commissioner Pradeep Kumar Agrawal on Tuesday issued a remark in this regard through which he mentioned, “With the enforcement of Model Code of Conduct in view of the impending Lok Sabha elections 2019, restrictions relating to wearing of money have been issued. If anyone is wearing between Rs 50,000 to Rs 10 lakh, then valid proof is needed else vital action will likely be taken in opposition to the individual. Whereas if anyone is caught wearing more than Rs 10 lakh in money (even with valid proof), then that specific case would be straight away handed over to the Income Tax department for additional investigation. The aim of this resolution is not to bother anyone, however to stay a test on illegal go with the flow of cash and a number of other flying squads have already been shaped for this function, that would remain on accountability 24X7.”


As in line with the tips, if anyone is caught wearing money with out proof and it's established that the cash used to be for use for election function via any candidate or his representative then that amount will likely be added to the expenditure of the candidate. However if the cash intercepted is not meant for elections and the holder of money is not able to provide any proof about its legitimacy that in this case the cash is seized and handed over to IT department for verification and extra action.


Meanwhile, town businessmen are in a repair as this is possibly for the primary time that code of habits will likely be in position for this type of long time and the cash movement even for legit purposes will likely be affected.
Code of conduct: Trouble for businessmen as restrictions imposed on carrying cash above Rs 50,000 Code of conduct: Trouble for businessmen as restrictions imposed on carrying cash above Rs 50,000 Reviewed by kailash soni on March 12, 2019 Rating: 5
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