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How does RBI deal with old notes, banned notes of 500 and 1000
In a major assault on black money and terror financing, Prime Minister Narendra Modi on November 8 2016 announced demonetisation…
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Demonetisation,NRI,Exchange Rs 500 and Rs 1000 Notes
It’s a common practice among NRIs to carry some amount of Indian currency with them when they leave the country,…
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Income Tax Notice and Bank accounts with large value cash transactions
As part of its data matching exercise, Income Tax Department has identified bank accounts which have large value cash transactions.…
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Demonetization Myths and Reality
There are many myths and facts, claims and allegations, in the air about – recently announced – demonetization scheme, under…
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Giving Cash and Deposit money into Bank Accounts and Tax on Gifts
It is not advisable to deal in cash and borrow or lend by cheque or bank draft even if it…
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Go Cashless:Digital Wallets, NEFT,IMPS,UPI, Debit Cards,Credit Cards
On November 8, 2016 India witnessed one of the most significant revolutions,Demonetization. PM Narendra Modi debarred the legal acceptance of…
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Tax and penalty on Cash Deposit due to Demonetization
If you have Rs 500 and Rs 1,000 notes lying with you, there is no reason to panic if you…
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