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 […]
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 […]
When History takes a turn, there is plenty you can expect. India seems to be living in this kind of a phase for the past ten days. The wave of demonetisation that swept across the country on November 8 has brought related changes in various areas of the economy. Besides the fact that the move […]