Demonetization - Page 10

Govt may reduce Interest rate & waive transaction Charges on Credit Card to promote cashless transactions

RBI has deregulated interest rates on credit card dues. Interest rates are determined by banks with the approval of their respective Board of Directors subject to regulatory guidelines on interest rate on advances issued by RBI from time to time. RBI does not maintain information on the rate of commission charged....

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Posted Under: Fema / RBI |

Meeting conducted by RBI prior to demonitization

RBI held a meeting of its Central Board on November 8, 2016. The agenda of the meeting, inter-alia, included the item : Memorandum on existing banknotes in the denomination of Rs 500 and Rs 1000 - Legal Tender Status...

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Posted Under: Fema / RBI |

Govt issues banknotes worth Rs. 5,92,613 crore upto 19.12.2016

From November 10, 2016 upto December 19, 2016, banks have reported that banknotes worth Rs. 5,92,613 crore have been issued to public...

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Posted Under: Fema / RBI |

Demonetisation – Submission of Online Response for verification of Cash Deposits

The online verification of cash deposits during demonitisation has been enabled on the e-filing portal (for taxpayers) which will be synchronized with the internal verification portal of Income Tax Department (ITD)....

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Posted Under: Fema / RBI |

Demonetization Effects on Indian Economy

Voluntary disclosure scheme has been implemented six times in India and discontinued the scheme ever again, the reason being that it is unfair to the honest person.The honest businessman’s capital is rising slowly because he is paying full tax. The dishonest businessman’s capital is rising fast.so the honest s one say let me also be...

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Posted Under: Fema / RBI |

Adverse impact of demonetisation on GDP will be transitional

GDP growth in 2017-18 is projected at 6 ¾ to 7 ½ percent Post-demonetisation. Middle class to get affordable housing due to fall in Real Estate prices. Remonetisation to eliminate cash squeeze by April 2017....

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Posted Under: Fema / RBI |

Focus to tax huge cash deposits after Demonetization

Government will put greater focus on quality of expenditure and higher tax realisation from the huge cash deposits in Banks, triggered by demonetization, Shri Jaitely concluded....

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Posted Under: Fema / RBI |

Guide to Online verify Cash Deposits during 09.11.2016 to 31.12.2016

Income Tax Department- User Guide for Online Verification of Cash Deposits during 9th Nov to 30th Dec 2016 Please contact 1800 4250 0025 for queries regarding e-filing issues. Please send mail at cash2016@incometaxindia.gov.in for queries regarding verification. 1. Background Income Tax Department (ITD) intends to leverage technology and ...

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Posted Under: Fema / RBI |

IT Dept seeks Clarification on cash deposited during Demonetisation

Income Tax Department launches Operation Clean Money to seek Clarification from PAN holders on cash deposited during Demonetisation period...

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Posted Under: Fema / RBI |

How to submit online response to Cash Deposit in Bank Account

Income Tax Department has identified bank accounts which have large value cash transactions. The details of bank account are visible under Compliance section of the e-filing portal of the related persons. PAN holders can submit the on-line response as under:...

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Posted Under: Fema / RBI |
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