demonetisation Archive

High cash sales during demonetization-more than 60000 persons identified for investigation – CBDT

Author: | Categories: Income Tax No comments
High cash sales during demonetization-more than 60000 persons identified for investigation. All the liable accounts will be brought to tax – CBDT  Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 14th April, 2017. PRESS RELEASE CBDT’s Operation Clean Money Reins in

Disclosure of SBN in company balance sheet and auditors report made compulsory

Author: | Categories: Companies Act 3 Comments
Disclosure of SBN in company balance sheet and auditors report made compulsory Company to disclose details of SBN in balancesheet held and transacted during demonetisation period from 08-11-2016 to 30-12-2016  MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th March, 2017 G.S.R. 308(E).—In exercise of the powers conferred by sub-section (1)

Demonetisation adverse impact was transient and felt mainly in November and December 2016. The impact moderated significantly in January 2017-RBI

Author: | Categories: RBI No comments
Demonetisation adverse impact was transient and felt mainly in November and December 2016. The impact moderated significantly in January 2017-RBI Macroeconomic Impact of Demonetisation- A Preliminary Assessment Reserve Bank of India March 10, 2017 Demonetisation announced on November 8, 2016 was aimed at addressing corruption, black money, counterfeit currency

Exchange of old currency notes grace period after 30-12-2017

Author: | Categories: Finance Ministry No comments
Exchange of old currency notes grace period after 30-12-2017 Submission of old currency notes of Rs. 500 and Rs. 1000; The grace period for Indian citizen residing in India is March 31, 2017 and for Indian citizen resident outside is June 30, 2017 The Specified Bank Notes (Cessation of

Persons whose tax profiles not match with cash deposits made in bank during the demonetization period identified-Operation Clean Money

Author: | Categories: Income Tax No comments
Persons whose tax profiles not match with cash deposits made in bank during the demonetization period identified-Operation Clean Money  Ministry of Finance PIB Press Release dated 10/03/2017 Operation Clean Money; Income Tax Department identifies 17.92 Lakh persons whose tax profiles were not in line with the cash deposits made

Harsh punitive actions against shell companies to prevent misuse for money laundering and tax-evasion

Author: | Categories: Finance Ministry No comments
Harsh punitive actions against shell companies to prevent misuse for money laundering and tax-evasion for unearthing black money post demonetization Ministry of Finance Press Release Dated: 10-02-2017 Harsh punitive actions to be taken against the deviant Shell Companies including freezing of Bank Accounts, striking off the names of dormant

No savings bank cash withdrawals limit from 13-03-2017. Limit enhanced to Rs. 50,000 per week from 20-02-2017

Author: | Categories: RBI No comments
No savings bank cash withdrawals limit from 13-03-2017. Limit enhanced to Rs. 50,000 per week from current limit of Rs. 24000 per week Removal of limits on withdrawal of cash from Saving Bank Accounts RBI/2016-17/224 DCM (Plg) 3107/10.27.00/2016-17 February 08, 2017 All Banks Dear Madam / Sir, Removal of
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