Income Tax : The Tribunal held that cash deposits during demonetisation cannot be treated as unexplained when backed by audited books, invoices...
Finance : Recent reforms in gold, land, and PAN tracking hint at a structured buildup toward another demonetisation. The key takeaway is a t...
Income Tax : Discover the implications of a significant Delhi ITAT ruling on cash sales pre-demonetization. Learn how it affects taxation and f...
Income Tax : Explore the impact of demonetization on cash deposits in India and the key legal insights from Section 69A vs. Section 44AD cases....
Fema / RBI : Public can continue to use ₹2000 banknotes for their transactions and also receive them in payment. However, they are encouraged...
CA, CS, CMA : SFIO, Ministry of Corporate Affairs, arrests CA Nalin Prabhat Panchal in Hyderabad for failure to honor summons related to Nityank...
Income Tax : No study on effect of withdrawal of legal tender character of the Specified Bank Notes (SBNs) on Indian economy has been published...
Income Tax : Demonetisation, inter alia, led to detection of black money, increase in tax collection and widening of tax base: Union MoS for Fi...
Fema / RBI : Value of counterfeit notes detected in banking system reduced from ₹43.47 crores in 2016-17 to ₹8.26 crores in 2021-22 since d...
Income Tax : An analysis of the search cases, conducted by Income Tax Department (ITD), involving cash seizures of more than Rs 5 crores in the...
Income Tax : Bangalore ITAT held that cash redeposited during demonetisation could not be treated as unexplained under Section 69A when the ass...
Income Tax : The ITAT ruled that failure to produce confirmations from debtors did not justify additions where sales, ledger accounts, and samp...
Income Tax : The ITAT Delhi held that cash deposits representing recorded business sales could not be treated as unexplained under Section 68 w...
Income Tax : The ITAT Mumbai held that cash deposits during the demonetization period could not be treated as unexplained where the assessee's ...
Income Tax : ITAT Ahmedabad held that cash deposits cannot be treated as unexplained merely because they were made in old denomination notes du...
Fema / RBI : RBI reported that 98.44% of ₹2000 banknotes in circulation have been returned since the withdrawal announcement in May 2023. How...
Fema / RBI : The RBI announced the withdrawal of ₹2000 notes in May 2023. As of Sept 30, 2025, 98.35% of notes are returned. Notes remain leg...
Fema / RBI : RBI provides an update on the withdrawal status of ₹2000 banknotes, with 98% of notes returned by October 31, 2024....
Fema / RBI : RBI has extended deadline for withdrawal of ₹2000 banknotes to October 7, 2023. Learn about new guidelines and arrangements....
Fema / RBI : Reserve Bank of India's decision to withdraw ₹2000 banknotes has been highly effective, with 93% of these notes already returned...
Be it the tax reforms or demonetization or interest rate cuts or Shrinking stock markets real estate sector always reflects without a doubt
Central Government has decided that up to 30.12.2016, the payment towards tax, surcharge, penalty and deposit under the Pradhan Mantri Garib KalyanYojana (PMGKY), can be made in Old Bank Notes of 500 and 1,000 denomination issued by the RBI.
Explanatory Notes on Provisions of Taxation And Investment Regime For Pradhan Mantri Garib Kalyan Yojana, 2016 As Contained In Chapter IX-A Of Finance Act, 2016
With demonetization, long ATM queues are common view currently. Kiss them goodbye and welcome new PhonePe, a mobile payment app based on Government-Backed Unified Payment Interface (UPI) platform.
Govt is promoting small traders to do their trading through bank accounts due to cash shortage. Govt given option to these traders under section 44AD to pay 6% tax on total turnover made through bank accounts.
Government of India kick-starts the awards of the Lucky Grahak Yojana and Digi-Dhan Vyapar Yojana. 15000 Winners of first Lucky Draw to incentivise digital payments announced today
‘Digi Dhan Vyapar Yojana’ is mainly for traders and businessmen. Traders should adopt this scheme themselves and should encourage their customers too in order to make their business cashless
Government directs GCMMF/Amul to ensure 100% milk producers accounts to be opened by 30th December, 2016. Co-operatives have been directed to ensure the opening of 100% accounts of milk producers/farmers by 30th January, 2017
Demonetisation is simultaneously a threat, a challenge and an opportunity .This bold step must yield target dividends unless further supported by many more revolutionary reforms Government must take may be in a phased manner but with more preparedness, integrity and strong political will power .
Recent demonetization of high value notes has resulted in unprecedented rush at bank branches and ATMs, non-availability of cash and banks filled with crowd has resulted in most of the people turning to cashless economy.
