Fault in Notification No. 2652 is clear that the Government had not defined the extent of operation of said clause in the notification. Since the extent of operation itself is missing, the writer is of view that the specified bank notes can be used as a legal tender until the Government defines the extent of operation of said clause.
CBDT amended Rule 114B (mandatory quoting of PAN) and Rule 114E (reporting in AIR) casting regulatory and reporting obligations on banks and post offices for accepting and reporting of cash deposits in the bank and post office accounts.
When you are buying a property ,you are also entering into a huge commitment with the place where it is located. The location of your purchase will have nonpareil effect on the future value of the real estate investment and affect your everyday life.
These appeals raise an interesting issue with respect to interplay of Article 9 of India Netherlands Double Taxation Avoidance Agreement and TP adjustments under domestic TP law.
For wedding expenses a maximum of Rs. 2,50,000/- may be withdrawn in cash from the bank accounts, subject to such conditions as may be specified by the Reserve Bank of India.
Provided further that the withdrawal limit provided in the first proviso shall also be applicable to the traders registered with the Agricultural Produce Market Committee (APMC) markets or mandis.
Sec 185 is applicable to both Public and Private Company. However A Private Company which satisfies the following conditions w.e.f. 5th June 2015 would not invite restrictions contained in section 185
Based on representations received from stakeholders and to further ease the PAN verification process at the time of account opening of FPIs, it is decided that the intermediaries can verify the PAN of FPIs online from website authorised by Income Tax department at the time of account-opening for FPIs.
Amidst the on going rumours , the one which is most peculiar and a generic question come acrossed is whether PAN is mandatory for depositing cash in excess of Rs.50,000/- or Rs.2,50,000/- in banks , post office etc?
Rate of exchange of conversion of the foreign currency with effect from 18th November, 2016 as notified by CBEC vide Notification No.138/2016 – Customs (N.T.) dated 17.11.2016
