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...
Finance : Understand the implications of depositing the Rs. 2000 note in banks amid its withdrawal from circulation. Explore challenges, inc...
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 : The case involved cash deposits during demonetization treated as unexplained income. The tribunal accepted the explanation of fore...
Income Tax : The Tribunal deleted the addition after finding that cash deposits were supported by disclosed sale consideration and documentary ...
Income Tax : The issue was whether demonetization cash deposits were unexplained. The Tribunal held that deposits from recorded business sales ...
Income Tax : The judgment reiterates that additions under Section 68 cannot be based on presumptions or suspicion without supporting evidence. ...
Income Tax : The issue involved SBN deposits treated as unexplained despite being part of recorded sales. The Tribunal held that taxing the sam...
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...
#Demonetisation Few bank branch officials, in connivance with some miscreants, are indulging in fraudulent practices while exchanging SBNs in cash / accepting SBN deposits into account.
It is reported that certain gullible persons are exchanging demonetised notes of Rs. 500 and Rs. 1000 on behalf of other and some are even helping them by depositing the hoarded cash into their own bank accounts
PPIs issuers can issue PPIs to such merchants. While balance in such PPIs cannot exceed ₹ 20,000/- at any point of time, the merchants can transfer funds from such PPIs to their own linked bank accounts upto ₹ 50,000/- per month
Subscribers of small scheme may not be allowed to deposit old demonetised currency notes of Rs. 500 and Rs. 1000, in Small Saving Schemes.
The mid night scrapping of Rs 500 and Rs 1000 currency notes , as announced by Prime Minister Shri Narendra Modi in his address to the nation on November 8, is being seen as a master stroke against black money and corruption that has been eating into the Indian economy like a termite for several decades.
The Modi government’s surgical strike against black money by way of demonetisation of high value currency notes, is set to shake up the real estate sector, marked by transactions involving unaccounted money.
The Prime Minister, Shri Narendra Modi, has invited views from the people, on the recent decision taken by the Union Government regarding currency notes of Rs. 500 and Rs. 1000.
November 8, 2016 will perhaps go down in history as the day India ushered in the most comprehensive finance sector reform that transformed the country as never before.
Myth 1- In next round PM Modi will demonetise Rs. 100 and Rs. notes. Reality- There is no such intention and demonetisation will not be done for any other denomination of legal tender notes. Myth 2 – Select corporate houses and political party members were informed about the move in advance Reality– There was no […]
Prime Minister Narendra Modi’s bold move to demonetize high value currency notes to curb black money and corruption signals his resolve to take on high and mighty ignoring political minefield.
