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Deposits of old notes in banks not to enjoy tax immunity: FM

News and Press Release - Dated:- 9-11-2016 - Finance Minister Arun Jaitley on Wednesday said deposits of now-defunct old ₹ 500 and ₹ 1,000 currency notes in bank accounts will not enjoy immunity from tax and the land of law will apply on .....

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n currency notes have to be deposited in bank accounts to get newer or smaller denomination currencies. But it should be clear that it is no immunity scheme. This (deposit) does not provide any relief from taxation. The law of land will apply (on sou .....

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losed and if it is a crime money, or bribe money, then it is trouble, he told DD News. The Finance Minister further said that housewives and farmers with genuine savings need not worry about depositing cash in their bank accounts. The small amounts t .....

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two weeks replacements may be less but after 2-3 weeks as more currency notes come in market then normal replacement will be available. The move would help make more and more transactions become digital, he said, adding now people will disclose inco .....

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