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Demonetization

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Cash Deposits & Taxation: Section 69A vs. Section 44AD: Key Case Laws

Income Tax : Explore the impact of demonetization on cash deposits in India and the key legal insights from Section 69A vs. Section 44AD cases....

November 7, 2023 11946 Views 0 comment Print

FAQs on ₹2000 Denomination Banknotes – Withdrawal from Circulation

Fema / RBI : Public can continue to use ₹2000 banknotes for their transactions and also receive them in payment. However, they are encouraged...

September 30, 2023 9726 Views 1 comment Print

What are the implications of depositing this Rs. 2000 note in Bank?

Finance : Understand the implications of depositing the Rs. 2000 note in banks amid its withdrawal from circulation. Explore challenges, inc...

May 25, 2023 4137 Views 0 comment Print

New Income Tax Amnesty Scheme? Convert Black into White without any Tax!

Income Tax : Explore the potential pitfalls and opportunities of the new income tax amnesty scheme. Learn how to convert black money into white...

May 24, 2023 46965 Views 6 comments Print

Reserve Bank of India to Withdraw Rs 2,000 Banknotes from Circulation

Fema / RBI : RBI recently made a significant decision to withdraw circulation of Rs 2,000 denomination banknotes. While these notes will contin...

May 23, 2023 600 Views 0 comment Print


Latest News


SFIO Arrests CA in Hyderabad: Demonetization Role

CA, CS, CMA : SFIO, Ministry of Corporate Affairs, arrests CA Nalin Prabhat Panchal in Hyderabad for failure to honor summons related to Nityank...

September 18, 2023 1482 Views 1 comment Print

Demonetisation and its effect on Indian economy

Income Tax : No study on effect of withdrawal of legal tender character of the Specified Bank Notes (SBNs) on Indian economy has been published...

March 23, 2023 1038 Views 0 comment Print

Demonetisation led to detection of black money & widening of tax base

Income Tax : Demonetisation, inter alia, led to detection of black money, increase in tax collection and widening of tax base: Union MoS for Fi...

February 15, 2023 996 Views 0 comment Print

Value of counterfeit notes detected in banking system reduced post demonetisation

Fema / RBI : Value of counterfeit notes detected in banking system reduced from ₹43.47 crores in 2016-17 to ₹8.26 crores in 2021-22 since d...

August 10, 2022 315 Views 0 comment Print

No proposal to stop circulation of Rs 2,000 notes

Income Tax : An analysis of the search cases, conducted by Income Tax Department (ITD), involving cash seizures of more than Rs 5 crores in the...

December 3, 2019 1089 Views 0 comment Print


Latest Notifications


RBI Extends ₹2000 Banknote Withdrawal Deadline to October 7, 2023

Fema / RBI : RBI has extended deadline for withdrawal of ₹2000 banknotes to October 7, 2023. Learn about new guidelines and arrangements....

September 30, 2023 2658 Views 0 comment Print

Banks to maintain daily data on deposit & exchange of ₹2000 banknotes: RBI

Fema / RBI : Banks are advised to make necessary arrangements at their branches to accommodate customers seeking to exchange ₹2000 banknotes....

May 22, 2023 10215 Views 0 comment Print

₹2000 Denomination Banknotes – Withdrawal from Circulation by RBI

Fema / RBI : RBI decided to withdraw ₹2000 denomination banknotes from circulation. Banknotes in ₹2000 denomination will continue to be leg...

May 19, 2023 9570 Views 0 comment Print

Cases of substantial cash deposit during demonetisation period- Reg.

Income Tax : Functionality for viewing information related to Cases of substantial cash deposit during the demonetisation period in which notic...

March 19, 2019 4107 Views 0 comment Print

Deposit of specified bank notes with Reserve Bank

Fema / RBI : MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 20th June, 2017 G.S.R. 611(E).-In exercise of the...

June 21, 2017 2241 Views 0 comment Print


Status of Cash Withdrawal/ Exchange/ Deposit post demonetisation

November 28, 2016 1888 Views 0 comment Print

Banks reported that post demonetisation exchange/deposits effected from November 10, 2016 upto November 27, 2016 amounted to ₹ 8,44,982 crore (exchange amounted to ₹ 33,948 crore and deposits amounted to ₹ 8,11,033 crore).

No restriction on cash withdrawal of deposit made in legal tender notes

November 28, 2016 10816 Views 10 comments Print

It has been decided, on careful consideration, to allow withdrawals of deposits made in current legal tender notes on or after November 29, 2016 beyond the current limits; preferably, available higher denominations bank notes of ₹ 2000 and ₹ 500 are to be issued for such withdrawals.

Gold Control Act Is In The Offing?

November 28, 2016 8353 Views 0 comment Print

Advocate Akhilesh Kumar Sah At 8 p.m. on November 8, 2016, Prime Minister Mr. Narendra Modi announced that the Rs. 500 and Rs. 1000 notes shall not be a legal tender from the midnight of November 8, 2016. Also, he announced the introduction of new Rs. 500 and Rs. 2000 denomination notes. PM has repeated […]

Payment Banks in India

November 28, 2016 4951 Views 1 comment Print

Payment banks (PB) are being introduced to offer basic banking operations like opening and maintaining a savings/current account and creating a secured technologically advanced remittance services by migrant workforce, low income households, small businesses etc.

PM’s ‘Mann Ki Baat’ address on All India Radio on 27.11.2016

November 27, 2016 2236 Views 0 comment Print

When I asked people for suggestions for ‘Mann ki Baat’, I can say that almost all the suggestions that were received echoed one theme. Everyone wanted me to speak in more detail about the 500 & 1000 rupee notes.

RBI Announces Measures to Manage Liquidity Conditions

November 26, 2016 1669 Views 1 comment Print

Beginning November 9, 2016, there has been a surge in deposits relative to the expansion in bank credit, leading to large excess liquidity in the system. The magnitude of surplus liquidity available with the banking system is expected to increase further in the fortnights ahead.

Note exchange continues at Reserve Bank counters

November 25, 2016 1543 Views 0 comment Print

RBI advises that exchange of banknotes in ₹ 500 and ₹ 1000 denominations will continue to be available at RBI counters

Exchange facility to foreign citizens of demonetised notes

November 25, 2016 2353 Views 1 comment Print

Foreign citizens (i.e. foreign passport holders) can exchange foreign exchange for Indian currency notes up to a limit of ₹ 5000/- per week till December 15, 2016 subject to the tenderer submitting a self-declaration that this facility has not been availed of during the week.

Demonetization and Clandestine Cash Conversions

November 25, 2016 5182 Views 1 comment Print

From the reports, it is seen that people who have lot of unaccounted money in the form of old Rs. 500 and Rs. 1000 notes have resorted to so many clandestine ways to convert their holdings.

Its Time to Clean the Country

November 25, 2016 4525 Views 5 comments Print

Every Coin has two sides, One is Good and other is Bad. Same way Demonetization Scheme has two sides, one is Positive and other is negative.

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