Payments above Rs. 5000 by govt. depts. to be made through e-payment
In order to attain the goal of complete digitization of Government payments, the Ministry of Finance, Government of India has again reviewed
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Government employees asked to take the lead and maximize usage of Debit Cards for personal related transactions instead of cash
In the recent years, advancements in banking technology, progress in mobile banking and innovative technologies to facilitate digital payments have enabled large
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Cabinet approves liberalization, simplification and rationalization of visa regime in India
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for liberalization, simplification and rationalization of the
Continue readingPoint of Sale (POS) Devices and Goods required for their manufacture exempted from Central Excise Duty till March 31, 2017
The Government has demonetised the currency notes of Rs 500 and Rs 1,000 with effect from mid-night of 8th-9th November, 2016. Along
Continue readingMeasures initiated by RBI to prevent fraudulent use of debit cards
RBI has informed that number of debit cards outstanding at the end of August 2016 was 71.2 crore. RBI has informed that
Continue readingClarifications with respect to gold jewellery under Income Tax Law
In order to remove any doubt about the current position of Income Tax Law with respect to gold jewellery, the following points are
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The Taxation Laws (Second Amendment) Bill, 2016 passed in Lok Sabha
As reported by Times Now, the Lok Sabha passed the Taxation Laws (Second Amendment) Bill, 2016. The government proposed to levy total
Continue reading‘Ease of Doing Business’ enhanced for Importers & Exporters by reducing physical print-outs/paper documents for customs clearance
The “Ease of Doing Business” will be further enhanced for the Importers and Exporters by reducing/eliminating physical printouts for customs clearance. The
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Draft Model GST Law, Draft IGST Law and Draft Compensation Law placed in public domain for information of trade, industry and other stake holders
The Draft Model GST Law, Draft IGST Law and Draft Compensation Law which would be considered by the GST Council for approval
Continue readingCBDT signs 4 Unilateral Advance Pricing Agreements pertaining to various sectors of economy including pharmaceuticals, Information Technology & construction
The Central Board of Direct Taxes (CBDT) has entered into four more unilateral Advance Pricing Agreements (APAs) on 22nd and 23rd November,
Continue readingCash withdrawal for wedding restricted to Rs 2.5 lakhs along with stiff conditions
Please refer to our Circular No. DCM (Plg) No.1226/10.27.00/2016-17 dated November 08, 2016 on the captioned subject. 2. With a view to enable members
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Security Protocol Rules Relating to Differently Abled Persons at Airports
With regard to the security protocol rules relating to differently abled persons at airports, the Bureau of Civil Aviation Security (BCAS), the
Continue readingTransactions in relation to which quoting PAN is mandatory
The Income Tax Department prescribes a list of transactions for which quoting of Permanent Account Number (PAN) is mandatory. These are listed
Continue readingDemonetisation: Banks to comply with Rule 114B of Income Tax Rules, 1962
Please refer to our Circular DCM (Plg) No.1226/10.27.00/2016-17 dated November 08, 2016 on the captioned subject. With a view to ensure compliance with
Continue readingDemonetisation: Expanding distribution locations for deposit & withdrawal of cash
Please refer to our Circular No. DCM (Plg) No.1226/10.27.00/2016-17 dated November 08, 2016 on the captioned subject. With a view to widen the existing
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Revamped Aadhaar Toll-Free Helpline No. 1947 Launched
Aadhaar Toll-Free Helpline No. 1947 to bring convenience to Aadhaar holders, provide solutions anytime, anywhere With the growing use of Aadhaar in
Continue readingRBI: Updated FAQs on Withdrawal of Specified Bank Notes
FAQs on Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of Rs 500/- and Rs 1000/- [Updated as
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Cabinet approves constitution of Special Committee for Inter-Linking of Rivers
Cabinet approves Status-cum-Progress Report and constitution of “Special Committee for Inter-Linking of Rivers” in compliance of judgment of Supreme Court The Union
Continue readingRBI: DCCBs can allow existing customers to withdraw up to Rs 24,000 from their accounts
Withdrawal of Legal Tender Character of existing Rs 500/- and Rs 1000/- Bank Notes – Applicability of the Scheme to DCCBs Please
Continue readingUsage of ATMs – Waiver of customer charges
A reference is invited to the circular DPSS.CO.PD.No.316/02.10.002/2014-2015 dated August 14, 2014 on rationalisation of number of mandatory free ATM transactions for savings bank
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