Deposit Scheme December 30
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RBI Amends Rs 5,000-Deposit Order After Backlash, No Questions For KYC Accounts
In its 60th notification since the notes ban was announced, the Reserve Bank of India (RBI) today made an important change in how outlawed 500- and 1,000-rupee notes can be deposited in banks after a huge backlash over the rule that required an explanation from people for deposits above Rs 5,000. No questions will be asked for deposits above Rs 5,0...
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New Deposit Scheme Allows Old Notes Worth 5,000-Plus Only Once Till December 30
The government has in new restrictions said that deposits of more than 5,000 rupees in old 500 and 1,000-rupee notes can be made in a bank account only once from today till December 30, the deadline for depositing old notes. The Finance Ministry said any deposit of over Rs 5,000 will be subject to questioning by two bank officials, who have to be g...
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Unaccounted Deposits In Old Notes To Attract 50 Per Cent Tax, 4-Year Lock-In Period
A minimum of 50 per cent tax may be levied on unexplained bank deposits made using the banned currency notes up to December 30 along with a 4-year lock in period for half of the remaining amount under the amendments to tax law the government plans to bring in parliament shortly.
-
RBI Amends Rs 5,000-Deposit Order After Backlash, No Questions For KYC Accounts
In its 60th notification since the notes ban was announced, the Reserve Bank of India (RBI) today made an important change in how outlawed 500- and 1,000-rupee notes can be deposited in banks after a huge backlash over the rule that required an explanation from people for deposits above Rs 5,000. No questions will be asked for deposits above Rs 5,0...
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New Deposit Scheme Allows Old Notes Worth 5,000-Plus Only Once Till December 30
The government has in new restrictions said that deposits of more than 5,000 rupees in old 500 and 1,000-rupee notes can be made in a bank account only once from today till December 30, the deadline for depositing old notes. The Finance Ministry said any deposit of over Rs 5,000 will be subject to questioning by two bank officials, who have to be g...
-
Unaccounted Deposits In Old Notes To Attract 50 Per Cent Tax, 4-Year Lock-In Period
A minimum of 50 per cent tax may be levied on unexplained bank deposits made using the banned currency notes up to December 30 along with a 4-year lock in period for half of the remaining amount under the amendments to tax law the government plans to bring in parliament shortly.
