TMI BlogAccepting payment under IDS 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... Accepting payment under IDS 2016 - News and Press Release Dated:- 29-11-2016 - News - No.RB/CIR/IDS/1507 November 28, 2016 The Chief Executives of Member Banks Dear Sir/Madam, Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cepting payment under IDS 2016 Kindly refer to the appended self-explanatory email from Reserve Bank of India and Central Board of Direct Taxes on accepting payment under IDS 2016. In this con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nection, we would like to invite your attention to the FAQ (https://www.rbi.org.in/Scripts/FAQView.aspx?Id=119 ) on Withdrawal of Legal Tender Character of the existing Bank Notes in the denominatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns of ₹ 500/- and ₹ 1000/- Question No. 22 (l) in the above FAQ clearly sets out that banks can accept old ₹ 500 denomination notes for payment of taxes and penalties. Thus, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... there should not be any doubt that these notes can be accepted for payment of tax, surcharge and penalties under the IDS, 2016 , upto December 15, 2016. Banks must adhere to the above instructio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns strictly and banks should ensure that the branches are aware of the FAQs. Yours faithfully, K Unnikrishnan Chief Executive (Offg) - News - Press release - PIB Tax Management In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dia - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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