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Deposits exceeds ₹ 5,000 in old ₹ 500 & ₹ 1,000 notes can be made only once per account till Dec 30: RBI [Read Notification]

Yet another move to curb Black Money, the Reserve Bank of India today said in a notification, deposits exceeding Rs 5000 in old 500 and 1000 notes can be made only once per account till december 30,...

Interbank Exposure - RBI - Taxscan
Taxscan Team

Government eases Norms for Angel Funds

A framework for registration and regulation of angel pools under a sub-category ''Angel Funds'' under Category I-Venture Capital Funds have been provided in SEBI (Alternative Investment Funds)...

Angel Tax-Central Government-taxscan
Taxscan Team

Digital Transactions are Parallel Mechanism, not a substitute for Cash Transactions, says FM Arun Jaitley

Government and the RBI takes various steps to bring down the cost of digital transactions. The Union Finance Minister Arun Jaitley said that digital transactions are a parallel mechanism, not a...

GST Rates - Arun Jaitely - Taxscan
Taxscan Team

Take urgent steps to dispose seized gold- CBEC to Customs Houses [Read Circular]

The Central Board of Excise and Customs (CBEC) recently directed the Customs Houses to take urgent steps to dispose seized gold as per the prescribed guidelines. The Circular clarifies that, in...

CBEC-customs house-taxscan
Taxscan Team

Demonetisation: Government allows Farmers to Purchase Seeds with the Old Rs.500 notes

To further support farmers for the current Rabi crop, the Government has decided to allow farmers to purchase seeds with the old high denomination banknotes of Rs.500 from the Centres, Units or...

Purchase Seeds - Demonetisation - Taxscan
Taxscan Team

RBI directs Banks to Collect PAN details for Cash Deposits

Following the amendment to Rule 114B and Rule 114E of the Income Tax Rules by the CBDT through its Notification, the RBI today directed the Banks to collect a copy of PAN card while accepting deposits...

KYC Accounts - RBI - Taxscan
Taxscan Team

Surcharge on Debit/Credit Cards: Delhi HC issues notice to Finance Ministry & RBI

A division bench of Delhi High Court comprising of Chief Justice G Rohini and Justice Sangita Dhingra Sehgal has issued notice to Union Government and Reserve Bank of India (RBI) challenging the...

TDS-Debit-Credit-card-taxscan
Taxscan Team

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