Can i deposit 500 and 1000 rs note after 13th november
This query is : Resolved
12 November 2016
i deposited my cash of 8th nov. and now i got 500 and 1000 rs cash from my debtors on 12 th nov today. Can i deposit this cash in bank ... means I'll show the received entry on today's date . So i can deposit the cash of 500 and 1000 rs in my Firm's account . is it legal or not ... if i deposit ... I'll get a notice from IT ???
12 November 2016
You are not supposed to accept old 500 and 1000 notes from your debtors on 12th. Return the notes to your debtors and ask them to pay by new notes or accept the payment through bank. Not legal to accept such notes after 8th November.
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