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Demonetization of Indian Currency

Companies Law - Started By: - CA.LALIT MUNOYAT - Dated:- 14-11-2016 Last Replied Date:- 15-11-2016 - An open query for answer by the experts: CA Lalit MunoyatAfter withdrawal of currency of ₹ 500/- and ₹ 1000/-notes w.e.f. 00:00 8th Nov. 16, these currencies are no longer treated as legal tender. No one is supposed to deal in such currency except the exempted persons, entities. The non-exempted persons can only either exchange or deposit these currencies in their bank account. The qu .....

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ial deposit which is not permitted.However the justification for depositing it in multiple installment are many like: Cash is located at different places which are geographically far away from one another; There is risk of security in carrying large sum of cash; The banks levy cash transaction charges above a certain limit; etc.The reply will clear confusion in many minds . Thanks - Reply By MARIAPPAN GOVINDARAJAN - The Reply = The entire amount may be deposited in one tine or it may be spread o .....

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