Cabinet approves Convention between India and New Zealand for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income
Banks are therefore advised to take appropriate steps in order to meet this likely demand for cash by: (i) for pensioners (ii) for Armed Forces personnel.
No over the counter exchange (in cash) of SBNs will be permitted after midnight of November 24, 2016.Members of public who approach the banks for over the counter exchange of SBN may be encouraged to deposit SBNs into their bank accounts.
We have updated list of transaction wherein payment could be made through old Rs. 500 and Rs. 1000 notes after considering amendments on 24.11.2016.
It is felt that the domain knowledge and experience enumerated under various statutory provisions for the directors on the boards of commercial banks (excluding RRBs) need to be augmented by knowledge and experience in other specialized areas
Customs Houses should no more insist for issuance of Mate’s receipt in the case of containerised cargo. However, in respect of non-containerised export cargo like bulk cargo etc., the practice of issuing Mate’s receipt would continue.
(1) These Regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. (2) These Regulations shall come into force on 29th November, 2016.
Government, in principle, decided to enhance the threshold limit of wage for coverage under the Employees’ State Insurance (ESI) Act, 1948 from existing Rs.15,000/- pm to Rs. 21,000/- pm.
Another Meeting of the Law Sub-Committee comprising of the officers of the States and the Centre has been now scheduled for 25th November, 2016 in Delhi in order to finalise the draft GST related Laws before placing them before the GST Council.
subscribers of Small Savings Schemes may not be allowed to deposit SBNs in Small Savings Schemes. Banks are, therefore, advised not to accept SBNs for deposits in Small Saving Schemes with immediate effect.
