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Finance ministry directs all banks to maintain record of old and new currency deposit
12 December 2016 at 11:28The Ministry of Finance through a letter to all the MDs &CEOs/CMDs of PSBs and Chairman, IBA directs that all the bank branches in the country be alerted to reflect correctly the cash deposit in old and new currency and inform the customers about
Exemption withdrawn for usage of Rs 500 old notes at railways
10 December 2016 at 15:42Government withdraws exemptions given for the use of Rs.500/- old notes, from the mid night of December 9, 2016, for making payments at railway ticketing counters, ticket counters of Government or Public Sector Undertakings buses for purchase of tick
Direct tax collection grows to 4.12 lakh crore till Nov
10 December 2016 at 15:42Direct Tax Collections up to November, 2016 show net collections at Rs. 4.12 lakh crore which is 15.12% more than the net collections for the corresponding period last year
ICAI submits Pre-Budget Memoranda-2017
10 December 2016 at 15:42ICAI submits Pre-Budget Memoranda-2017 PFA the file to know in details
Seizure of Rs 106 crore Cash and 127 kg Gold in Chennai
10 December 2016 at 15:42Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesSeizure of Rs. 106.52 crore Cash and 127 kg Gold in the case ofSand mining Contractors at Chennai by the Income Tax DepartmentThe Investigation Directorate of Inc
ICAI advises CAs to watch the national interest as uppermost while advising client in the backdrop of Demonetisation
09 December 2016 at 18:31December 9, 2016ANNOUNCEMENTFor attention of MembersDemonetisation Policy announced by Government of India- An Advisory for Members As you may be aware, the ICAI has always been supportive of the bold initiatives taken by the Government in strengthen
Rs 427684 crore issued to public since demonetisation by banks
09 December 2016 at 10:52Activity at Banks during November 10 to December 7, 2016Consequent to the announcement of withdrawal of Legal Tender status of banknotes of ₹ 500 and ₹ 1000 denominations from the midnight of November 8, 2016, the Reserve Bank of India made arrangeme
11 incentives given by Govt for promotion of digital and cashless economy
09 December 2016 at 11:07In the aftermath of the cancellation of the legal tender character of old Rs.500 and Rs.1,000 notes, there has been a surge in the digital transactions through use of credit/debit cards and mobile phone applications/e-wallets etc. To further accelera
Innovative Methods of Laundering and Transportation of Cash found by Income tax department
09 December 2016 at 10:51Income Tax Sleuths Unearth Innovative Methods of Laundering and Transportation of Cash at Mumbai, Nagpur and Ahmedabad Income tax investigations atMumbailed to the revelation of a syndicate of ground level operators active in converting banned curren
Govt waives service tax for payment made below Rs 2000 by card
09 December 2016 at 10:21Government waives service tax charged while making payments through credit card, debit card, charge card or any other payment card; waiver limited to payments up to Rs. 2,000 in a single transaction When a customer uses a credit card, debit card, ch
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