Daily Archive: Monday, November 14, 2016

Separate Pay-in-slips for cash deposits of withdrawn bank notes. Depositor with mixed bunch of SBN and legal lender notes has to segregate them-RBI

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Separate Pay-in-slips for cash deposits of withdrawn bank notes. Depositor with mixed bunch of Specified Bank Notes and legal lender notes has to segregate them-RBI   Reserve Bank of India (RBI) vide its notification dated 14th November, 2016 has taken several measures consequent to withdrawal of Legal Tender Character

Cash withdrawal limit from Current Account increased to Rs. 50000 per week. C/A must be operational for last three months or more-RBI

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Cash withdrawal limit from Current Account increased to Rs. 50000 per week   Reserve Bank of India (RBI) vide its notification dated 14th November, 2016 has taken several measures consequent to withdrawal of Legal Tender Character of Specified Bank Notes by expanding the distribution locations for deposit and withdrawal

Income tax notice us 133(6) asking cash balance as on 08-11-2016 as a preventive measure to check black money conversion by Trusts and Societies

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Income tax notice us 133(6) asking cash balance as on 08-11-2016 as a preventive measure to check black money conversion by Trusts and Societies. It is learnt that Income Tax Department is issuing notices u/s 133(6) to various entities to furnish the details of cash balance as per their

Yamuna Expressway Authority-If charitable Institution us 12AA or not to be decided by Allahabad High Court, Questions of Law framed

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Yamuna Expressway Authority-If charitable Institution us 12AA or not to be decided by Allahabad High Court, Questions of Law framed ABCAUS Case Law Citation: 1054 (2016) (11) HC Important Case under consideration: Sri Ramtanu Co-operative Society v. State of Maharashtra [1970(3) SCC ] Indian Trade Promotion Organization v. Director

Sale-purchase in only few share scrips not high volume to be treated as business income. A person can act both as trader and investor-ITAT

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Sale-purchase in only few share scrips not high volume. STCG was not business income as a person can act both as trader and investor-ITAT ABCAUS Case Law Citation: 1053 (2016) (11) ITAT Assessment Year 2010-11   Brief Facts of the Case: The appellant assessee was an individual. Her The

DCCB not allowed to exchange-deposit old notes of Rs 500 1000. However District Central Cooperative Banks can allow withdrawal of notes under limits-RBI

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DCCB not allowed to exchange-deposit old notes of Rs 500 1000. However District Central Cooperative Banks can allow withdrawal of notes under limits-RBI Reserve Bank of India Withdrawal of Legal Tender Character of existing ₹ 500/- and ₹ 1000/- Bank Notes – Applicability of the Scheme to DCCBs RBI/2016-17/130

Task Force for ATMs recalibration reactivation for new bank notes dispensation. Expeditious reactivation of all ATMs in planned manner.

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Task Force for ATMs recalibration reactivation for new bank notes dispensation. Expeditious reactivation of all ATMs in planned manner. Reserve Bank of India Date : Nov 14, 2016 Constitution of Task Force for enabling dispensation of Mahatma Gandhi (New) Series Banknotes – Recalibration and reactivation of ATMs It has
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