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NOTICE u/s 131 of IT act - REPLY to be made

Income Tax - Started By: - Harish Swami - Dated:- 1-6-2017 Last Replied Date:- 5-6-2017 - My client was named by a third party who was trapped by ATS authorities during transporting old currency notes of 500 and 1000.Summon issued by Department on reference issue.Obviously Client should deny the onus or shall name further of the persons actually owner of the currency.Can you suggest me better remedy? - Reply By MARIAPPAN GOVINDARAJAN - The Reply = Even if your client informs the name of the pers .....

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ication that said people could deposit demonetized currency notes even after December 31, 2016 at specific RBI branches up to March 31, 2017 after complying with procedural requirements. The Specified Bank Notes (Cessation of Liabilities) Bill, 2017, received the assent of the President on February 27 and has since then become a law. On Mar 1 2017 law as stipulated that the Holding of more than 10 notes of the junked ₹ 500 and ₹ 1,000 currency is now illegal, with a new law coming in .....

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