Not every one thinks of inflation and deflation . Most of the people I know who have small amounts of black money only have it for emergencies , mainly health . I know many lower middle class families with 12 L ' s in emergencies . Why they didn ' t buy gold ? I don ' t know . Most of the transactions which are in lakhs won ' t even be cared for by the government after all of this . IT department will have so much work after this process that they ' ll be busy for the next 5 years going after the people who deposited in crores . Also you ' re deluded if you think , ' honesty ' is enough to prove to IT department . IT department is the scum of all babu ' s IMO , they randomly send out scrutinies and the only way to clear it is with a bribe . It desperately needs a overhaul . Hope Modi will tackle that after demonetisation .