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Demonitization of Old Notes : Few Legal & Income Tax Aspects

November 10, 2016 16828 Views 5 comments Print

In terms of Gazette Notification No 2652 dated November 08, 2016 issued by Government of India, Rs 500 and 1000 denominations of Bank Notes of the existing series issued by RBI shall cease to be legal tender with effect from 9th November, 2016,

PIL against Ban on Rs. 500 & Rs. 1000 notes in Bombay HC & SC

November 10, 2016 12238 Views 38 comments Print

As per Hindustam Times Two senior advocates from Mumbai namely Advocate Jamshed Mistry and advocate Jabbar Singh have moved the Bombay high court (HC) urging it to take suo moto cognisance of the Union government’s decision to stop the circulation of all currency notes of the denomination of Rs. 500 and Rs 1,000  arguing that […]

Download format of Request Slip for exchange of Old Bank Notes

November 10, 2016 16252 Views 3 comments Print

After the RBI Ban on Bank Notes of Rs. 500 and Rs. 1000 RBI has issued guideline and format for exchange of such old Bank Notes of Rs. 500 and Rs. 1000  which are as follows:-  (i) the specified bank notes of aggregate value of ₹ 4,000/- or below may be exchanged for any denomination […]

No cash refund for Rail ticket cancellation of Rs.10,000­ & above

November 10, 2016 6814 Views 0 comment Print

Revision in the procedure of cancellation and refund of value of Rs. 10,000/­ and above for the PRS counter tickets booked from 09.11.2016 to 11.11.2016.

Understanding of OHD (Rs.1000/- & Rs.500/-) Notes Scheme

November 9, 2016 30370 Views 8 comments Print

PM Narendra Modi on 8th November. 2016 (Tuesday) announced scrapping of Rs 500 and Rs 1,000 notes. The surprise move triggered panic reactions. News is viral on social media. As a Tax consultant I am receiving call regarding it.

Withdrawal of Notes of ₹ 500 & ₹ 1000- Things You must know

November 9, 2016 6328 Views 2 comments Print

Salient features of the scheme of Withdrawal of Legal Tender Character from existing series of Bank Notes in the denominations of Rs. 500 and Rs. 1000

Exceptions to withdrawal of ₹ 500 & ₹ 1000 Banknotes

November 8, 2016 31591 Views 3 comments Print

Government declares that ₹ 500 & ₹ 1000 Banknotes shall not be ceased to be legal tender, with effect from the 9th November, 2016 until the 11th November, 2016, to following 8 transactions specified below,

How to Enroll / Register Existing Taxpayer on GST Portal

November 8, 2016 23923 Views 2 comments Print

I am an existing taxpayer registered under Excise, Service Tax and State Tax Laws such as VAT, Entry Tax, Luxury Tax and Entertainment Tax. I received SMS/ E-Mail with Provisional ID and Password.

Highlights on the Draft GST Invoice Rules

November 7, 2016 8863 Views 0 comment Print

Draft GST Invoice Rules- 1. Format: Tax invoice format is prescribed which contains routine details with signature or digital signatures of supplier.

Is Your Money Dying? It’s Time to Get It Out of Savings Account

November 7, 2016 6379 Views 5 comments Print

#PaiseKoJagaao Nothing makes you feel more secure than having a lumpsum amount in your Savings Account, eh? Think again! If you are keeping your money in Saving Accounts, you can practically consider it dead.

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