Separate Pay-in-slips for cash deposits of withdrawn bank notes.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 of Specified Bank Notes by expanding the distribution locations for deposit and withdrawal of cash
Banks have to ensure that the customers use separate pay-in-slips for depositing specified bank notes and other legal tender bank notes.(If a depositor has a mixed bunch of SBN and legal lender notes, he has to segregate them and submit two separate Pay-in slips). Banks have to put in place, within CBS, a mechanism to maintain a record of receipts of SBNs customer-wise and denomination wise whether for exchange or for deposit by way of a flag to facilitate subsequent verification
Download Full Notification Click Here >>
Denying the accumulation of u/s 11(2) merely on grounds of a procedural delay in filing Form No. 10 is unsustainable…
Engagement of 05 Young Professionals CAs in the Office of Central Registrar of Cooperative Society on contractual basis The office…
Immunity u/s 270AA(2) in respect of a single transaction can not be denied to one assessee when the penalty was…
ITAT deleted addition u/s 69A towards jewellery found in search in view of Indian traditions, CBDT Instruction and High Court…
Documents obtained post search and information obtained from the public domain not incriminating material. Documents obtained by AO post search…
Information of deposits in bank did not constitute fresh information necessitating second reopening due to change in bank name In…