Demonetization

Articles

12/26/2016

RBI guidelines on new Rs 2,000 note for tracking Real or fake?

New note of 2000 base color is magenta bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India, and the year of printing ‘2016’ printed on the reverse of the banknote. The dimension Dimension of the banknote will be ’66 mm × 166 mm’. The denominational numeral 2,000 will be written in the Devnagari script and, in micro letters, RBI and 2,000 on the left side of the banknote. The new note will feature a see-through register with denominational numeral 2,000, which will be visible when the currency is held against light. Portrait of Mahatma Gandhi at the centre.The notes will carry an image of the Mangalyaan, depicting the country's first venture into interplanetary space to celebrate India's Mars mission, the logo and tagline of the Swachh Bharat Abhiyan. The reverse side features a motif of the Mars Orbiter Mission (MOM).There will be a windowed security thread with the inscriptions ‘Bharat’ (in Devnagari), RBIand 2,000 on banknotes with colour shift. The colour of the thread changes from green to blue when the note is tilted.The guarantee clause, governor's signature with promise clause and RBI emblem have been shifted to the right in the new notes, with the portrait and electrotype watermarks appearing right next to them.There will be a ashoka pillar emblem to the right of the Mahatma Gandhi portrait and electrotype (2000) watermarks. It will also have seven bleed lines and a rectangle as an identifying shape; as per the RBI guidelines, these are the identification and salient features for the visually impaired.According to sources, the security features of the Rs 2,000 note include latent images, coloured strip security threads and watermarks. There will also be a latent image with the denomination numeral that would be visible when the note is held at a 45-degree angle at eye level.

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Demonetization

Articles

12/23/2016

Old 500,1000 rupee notes can be used for payment under PMGKY till 30th December 2016

Payments towards Tax, Penalty, Surcharge and Deposit under PMGKY 2016 in Old Demonetised Currency(1000 & 500 rupee notes) allowed till 30th  December, 2016. 

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Demonetization

Articles

12/21/2016

Lower rate of Income Tax on digital turnover for small business for promoting Digital Payments & Creation of Less-Cash Economy

Government announced huge benefit given to businessmen for promoting digital/banking transactions for small business up to a turnover of Rs.2,00,000,00 (Rupees Two Crore) under Section 44AD of the Income-Tax Act,1961 Benefits are as follows

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Demonetization

Articles

12/19/2016

Have You Checked the New Rules for Deposits above Rs. 5000

The deposit of old Rs. 500 and Rs. 1000 notes is getting harder now. RBI has announced its new notification regarding the deposit of these old legal tenders. More than 80% old notes are already deposited in the banks. Now, RBI has instructed the banks to receive amount exceeding Rs. 5000 only once in each account for the remaining period i.e. till 30th December 2016. There are many more hiccups in depositing Rs. 500 and Rs. 1000 (Specified Bank Notes) SBNs which are explained in the following paragraph.

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Demonetization

Articles

12/14/2016

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