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Archive: 20 May 2023

Posts in 20 May 2023

Don’t Panic FAQs: RBI Announces Withdrawal of ₹2000 Banknotes

May 20, 2023 3735 Views 0 comment Print

RBI has decided to withdraw ₹2000 banknotes from circulation as part of its Clean Note Policy However, ₹2000 banknotes will continue to be legal tender

7 Things NGOs Should Consider When Filing Statements of Donations in Form 10BD

May 20, 2023 4533 Views 1 comment Print

Ensure compliance when filing Form 10BD for NGO donations under Section 80G. Learn about certificates, filing considerations, revisions, and submission methods for smooth operations.

CA/CS/CMA – See Where We Stand In PMLA

May 20, 2023 2607 Views 0 comment Print

Understand the roles, responsibilities, and obligations of CA/CS/CMA professionals in compliance with the Prevention of Money Laundering Act (PMLA). Learn about money laundering offenses, reporting entities, verification of client identity, records maintenance, and the powers of the director under PMLA. Stay informed to ensure effective due diligence and compliance in specified transactions.

Format of Request slip for exchange of bank notes in denominations of ₹2000

May 20, 2023 85125 Views 2 comments Print

To facilitate the exchange of ₹2000 banknotes, banks have introduced a simple and user-friendly Request Slip. In this article, we will walk you through Annexure-III, the Request Slip for exchanging ₹2000 banknotes.

Curious Case of ₹2000 Banknotes: Unravelling RBI’s Mysterious Move

May 20, 2023 1158 Views 0 comment Print

Uncover the mystery behind RBIs decision to withdraw ₹2000 banknotes. Legal tender but encouraged to deposit, explore the subtle motives, learn from history, embrace the transition, and bid farewell to the enigmatic ₹2000 notes.

Farewell to ₹2,000 Notes: 7 Insider Facts You Need to Know

May 20, 2023 1740 Views 0 comment Print

Bid farewell to ₹2,000 notes with 7 insider facts. Understand legal tender status, purpose, deposit/exchange details, timeframe, limits, introduction, and deposit procedure. Stay informed about the RBI’s decision to withdraw ₹2,000 notes and manage your currency holdings efficiently.

RBIs ₹2,000 Banknote Decision: Key Facts You Need to Know

May 20, 2023 1338 Views 0 comment Print

Recent decision by RBI regarding ₹2,000 denomination banknotes is not a demonetization exercise. It is important to note that these banknotes will retain their status as legal tender, ensuring that they can continue to be used for transactions.

Impact of Oath In Income Tax Proceedings

May 20, 2023 2439 Views 0 comment Print

Explore the impact of oath in Income Tax proceedings under the Income-tax Act, 1961. Understand the nuances, format, authority to administer, and consequences of oath in statements. Learn about the evidentiary value, validity, and retractions of statements given under oath. Stay informed on the legal aspects to ensure compliance and navigate tax proceedings effectively.

User Guide to Submit Response to Notices & Letters Received under e-Verification Scheme, 2021

May 20, 2023 14802 Views 0 comment Print

User Guide for Submitting Response to Notices and Letters Received under e-Verification Scheme, 2021 provide a comprehensive understanding on how to submit responses to notices and letters received under e-Verification Scheme, 2021.

Response to Notices & Letters Received under e-Verification Scheme, 2021- FAQs

May 20, 2023 13059 Views 0 comment Print

When a financial transaction reported by a Source/Reporting Entity is not considered/included by the taxpayers in their Return of Income (ITR), a computerized process of identification of such mismatch is undertaken.

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