Demonetization - Page 43

RBI clarification on Limit for Withdrawal of Cash

RBI/2016-17/123 DCM (Plg) No.1251/10.27.00/2016-17 (10/11/2016)

Cash withdrawal from a bank account over the counter shall be restricted to Rs. 10,000/- per day subject to an overall limit of Rs. 20,000/- a week from the date of the notification until the end of business hours on 24th November, 2016...

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PIL against Ban on Rs. 500 & Rs. 1000 notes in Bombay HC & SC

Just 3 days to Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II As per Hindustam Times Two senior advocates from Mumbai namely Advocate Jamshed Mistry and advocate Jabbar Singh have moved the Bombay high court (HC) urging it to take suo moto cognisance of the Union government’s decision to stop [&h...

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Posted Under: Fema / RBI | ,

Payment Systems to remain open on November 12 and 13, 2016

RBI/2016-17/116 DPSS (CO) RTGS No.1212/04.04.002/2016-17 (10/11/2016)

Payment Systems (RTGS, NEFT, Cheque Clearing, Repo, CBLO and Call markets) shall remain open on Saturday, November 12 and Sunday, November 13, 2016....

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Download format of Request Slip for exchange of Old Bank Notes

Just 3 days to Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II After the RBI Ban on Bank Notes of Rs. 500 and Rs. 1000 RBI has issued guideline and format for exchange of such old Bank Notes of Rs. 500 and Rs. 1000  which are as follows:-  (i) the […]...

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RBI / FM dismisses rumours of GPS-enabled Rs 2000 notes

Just 3 days to Join GST Online Certification Course by GST Professionals & TaxGuru.in – Batch II Soon after RBI notified that Rs 2000 currency notes would be introduced by the apex bank, a set of rumors emerged that these new notes would be embedded with nano-GPS chips will help locate the position of the […]...

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Posted Under: Fema / RBI |

No cash refund for Rail ticket cancellation of Rs.10,000­ & above

Commercial Circular No. 59 of 2016 (10/11/2016)

Revision in the procedure of cancellation and refund of value of Rs. 10,000/­ and above for the PRS counter tickets booked from 09.11.2016 to 11.11.2016....

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No toll payable on toll plazas on National Highways till 11.11.2016

The government has decided to suspend payment of fees at toll plazas on all National Highways till the midnight of 11.11.2016. Instructions in this regard are being issued to all the concessionaries including BOT, OMT operators and other fee collection agencies. ...

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Posted Under: Fema / RBI |

Demonetization Impact – Long term benefits at short term inconvenience

The action of demonetization of Rs. 500, 1000 currency notes has been a bold one, impacting one and all across the nation, widely applauded and apparently sounds in the interest of nation....

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Posted Under: Fema / RBI |

Incredible India! – The all new beta version

One thing we must admit that 8thand 9thNovember 2016 were the days a Chartered Accountant or a Tax Consultant has received the maximum number of phone calls on a single day, probably beating even his own birthday!...

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Posted Under: Fema / RBI |

Reg. Limit for acceptance of cash from Foreign Tourist

RBI/2016-17/113 A.P. (DIR Series) Circular No. 16 (09/11/2016)

At international airports, for arriving and departing passengers, who possess specified bank notes, the value of which does not exceed five thousand rupees to exchange them for notes which are legal tender;...

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