As the country waited for the Prime minister’s speech on 31st December 2016 with anxiety and anticipation, the RBI prepared some more guidelines to make demonetisation a relatively process for the NRIs. Midnight, the central banking authority of India declared that it was extending the date by which the NRIs can exchange their banned notes. […]
Post November 8, the country has been debating on whether it helps to have a cashless economy or not. With that, there have been discussions going on about how exactly to convert the economy into a digital one.Somewhere in the background, this move towards turning into a cashless economy has shown its effect on the […]
GST Caught Between Political Tussles – Fallout of Demonetisation and the wave thereafter!Would Prime Minister Modi have thought that his ‘surgical strike’ on black money have an impact on the other proposed wonder drug of the economy – the GST? Well it looks like it is creating an impact on those lines. The tsunami that […]
SO MUCH CAN HAPPEN IN THIRTY DAYS!Social Media is today dotted with tongue-in-cheek comments on how much can happen in one month – and how 30 days can change the way we live! Exactly a month ago, Prime Minister Narendra Modi announced strict measures announcing the withdrawal of the Rs 500 and 1000 notes from […]
In the past one month or so, there has been a wave of changes introduced due to the demonetisation process carried out by the Modi government. Besides a general ban on the old 500 and 1000 notes, in the recent days, there were many announcements made regarding gold and related schemes.Somewhere in all this, there […]
In the plethora of guidelines being issued under the Demonetisation wave, the Government has now declared the following regarding the Gold deposit that individuals can have: All jewellery that has been bought with declared wealth or income will not be taxed Ancestral jewellery will also be spared taxation Married women have been allowed to possess […]
No less than 50 percent tax could be levied on inexplicable bank deposits made when using banned currency notes around December 30, 2016 including a four-year lock-in period for One half of the remaining amount underneath the amendments to tax law the government plans to usher in Parliament shortly. However, a greater 90 percent tax […]
After about fifteen days of the Demonetisation process, the Government finally announced some measures on an operational level so that there is clarity about the usage of the old versus new notes – as also the exchange of the notes. Significantly, the following are noteworthy points: There will be no over the counter exchange of the […]
Whenever major sweeping changes are made in an existing system, some myths and rumours are bound to be floated around too – partly because of the ignorance of the masses and partly because of a tendency of a section of people to create confusion and panic. The Modi government’s recent Demonetization move is no exception! […]