Social media is going viral with speculations that the Prime Minister Narendra Modi will recall 125,000 retired Income Tax (I-T) officers aged 58-61 years, give them a three-day training from November 28 to 30 and they would join work from December 1. It is also being said that the financial year will shift to January-December instead of April-March and that the announcement would be made on December 20. There is also strong possibility that the Central government may scrap Income Tax from FY 2019-20 and replace with 'Banking Transaction Tax' (BTT) from April 1, 2019 likely and only two taxes—direct tax as BTT and GST as indirect tax—would remain. Also Read - Hugplomacy: BJP's Amit Malviya takes a dig at Priyanka of 'imitating' PM ADVERTISEMENT The list of what the government might do does not end here. If the social media is to be believed, it even explains how government might control black money.
https://www.thehansindia.com/telangana/rumours-rife-on-social-media-over-scrapping-of-income-tax--570102
![Prof K Nageshwar: Will Modi scrap Income Tax [HD] (Video)](https://secure.gravatar.com/avatar/ba9d209f7408d31c02bd9313ef807db249a6fcf24f993220eed41724683faf09?s=100&d=mm&r=g "Prof K Nageshwar: Will Modi scrap Income Tax [HD] (Video)"){kind=avatar}
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![Prof K Nageshwar: Will Modi scrap Income Tax [HD] (Video)](https://i0.wp.com/www.socialnews.xyz/wp-content/uploads/2019/10/08/maxresdefault-58.jpg?w=180&quality=80&zoom=1&ssl=1 "Prof K Nageshwar: Will Modi scrap Income Tax [HD] (Video)")
Social media is going viral with speculations that the Prime Minister Narendra Modi will recall 125,000 retired Income Tax (I-T) officers aged 58-61 years, give them a three-day training from November 28 to 30 and they would join work from December 1. It is also being said that the financial year will shift to January-December instead of April-March and that the announcement would be made on December 20. There is also strong possibility that the Central government may scrap Income Tax from FY 2019-20 and replace with 'Banking Transaction Tax' (BTT) from April 1, 2019 likely and only two taxes—direct tax as BTT and GST as indirect tax—would remain. Also Read - Hugplomacy: BJP's Amit Malviya takes a dig at Priyanka of 'imitating' PM ADVERTISEMENT The list of what the government might do does not end here. If the social media is to be believed, it even explains how government might control black money. https://www.thehansindia.com/telangana/rumours-rife-on-social-media-over-scrapping-of-income-tax--570102