Demonetization - Page 20

Demonetization and its Impact on Senior Citizens

Demonetization has affected the seniors adversely. The stated objectives of it are laudable but will they be effective in the long run is any body's guess. But enough has been written on that. Here I will deal with the problems seniors faced during the last weeks and what they will be facing in coming years....

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Posted Under: Finance |

Restriction on currency exchange for foreigners to continue till 31.01.2017

RBI/2016-17/208 A.P. (DIR Series) Circular No. 24 03/01/2017

Permitting foreign citizens to exchange foreign exchange for Indian currency notes up to a limit of ₹ 5000/- per week to continue till 31.01.2017. ...

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Supply 40% bank notes / cash to bank branches in rural areas

RBI/2016-17/207 DCM (Plg) No.2200/10.27.00/2016-17 03/01/2017

With a view to ensure that at least 40% bank notes are supplied to rural areas and to mitigate the issue in a more enduring manner, banks maintaining currency chests are advised to take following steps...

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Demonetization – Pains and Gains

It is now almost two months that a very bold decision was taken by dynamic Prime Minister Mr. Narendra Modi. After initial shock within few days the opinion was divided vertically. ...

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Demonetization May Lead to Lower Taxes

There is a general sentiment everywhere that India may witness a lower tax regime hence forth. This is the hope of citizens and businessmen as also being realized (off late) by the Government and tax administration....

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Attention! Resident & Non-Resident Indians returning from abroad

1. The Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 has been promulgated, in the follow-up of withdrawal of the legal tender character of the existing series of banknotes, as on 8.11.2016, in denominations of Rs. 500 & Rs. 1000 (referred to as Specified Bank Notes or SBNs). The Ordinance has come into effect from [&...

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SC dismisses writ on Pradhan Mantri Garib Kalyan Yojana tax scheme

Siddharth Mehta Vs.Union Of India And Anr (Supreme Court)

Writ been filed in SC requesting to quashing/setting aside penalty, surcharge and also provisions for lock-in/withholding of 25% of disclosed income for 4 years under the Taxation Laws (Second Amendment) Bill, 2016, (Pradhan Mantri Garib Kalyan Yojna, 2016), i.e. Section 199D(2), 199E and 199F of the Finance Act, 2016, by declaring them...

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Saal Do Hazar “Satra” main Tax Evaders ko “Khatra”

After demonetization income tax raid at many places, issues in banks came to notice. Further a big change in the indirect tax laws i.e. GST is coming. So there were big changes are likely to come in the year 2017 in the financial world....

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Text of PMs address to nation on the eve of New Year 2017

In a few hours, we will be ushering in the new year of 2017. 125 crore Indians will join the rest of the world, in welcoming it with new hope, new energy and new dreams....

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Posted Under: Finance |

Unbiased critical analysis of Demonetization

As one of the biggest decision in the history of Independent India, Prime Minister Mr. Narendra Modi marks the evening of 8th November 2016 with his surgical strike on black money through announcement of ceasing the Currency Notes of 500 rupees and 1000 rupees with a vision of putting a check on the huge amount of Black Money ...

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