Tag: demonetisation
Modus operandi for conversion of unaccounted cash during Operation Clean Money/demonetization by bullion traders/jewellers, Petrol pumps, Contractors, Shell companies etc. The Income Tax Department on the occasion of launch of Operation Clean Money Portal by Finance Minister placed Operation Clean Money Status Report of May, 2017. As per …
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 …
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 …
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 …
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 …
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 …
SOP for verification of Cash transactions deposits in bank by Income Tax Officers post demonetisation. CBDT issues detailed Standard Operating Procedures Instruction No. 03/2017 Government of India Ministry of FinanceDepartment of Revenue Central Board of Direct Taxes North Block, New Delhi Dated 21st of February, 2017 Subject: – …
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 …
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 …
Reports submitted to RBI regarding SBN deposited in banks as on 30-12-2016. says Government. However still no data appears to be available on Fake Currency Notes returned due to demonetisation. Ministry of Finance Press Release Dated: 7th February, 2017 Demonetisation of old 500 and 1000 rupee notes The …