Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 148]
Warning (2): Cannot modify header information - headers already sent by (output started at /home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php:853) [CORE/src/Http/ResponseEmitter.php, line 181]
LATEST NEWS UPDATES | Govt wants details of cash deposited before note ban -Aanchal Magazine

Govt wants details of cash deposited before note ban -Aanchal Magazine

Share this article Share this article
published Published on Jan 8, 2017   modified Modified on Jan 8, 2017
-The Indian Express

Finance Ministry says bank account holders must submit PAN by Feb 28

New Delhi:
IN A new set of rules notified on Saturday, the Ministry of Finance has asked banks and post offices to furnish details of cash deposits made during April 1-November 9 last year for amounts adding up to Rs 2.5 lakh or more per person, in all accounts other than current accounts.

For current accounts, banks and post offices have to give details of cash deposits adding up to Rs 12.5 lakh or more per person in the same period.

The ministry has also directed bank account holders who have not given their Permanent Account Number (PAN) or Form 60 to do so by February 28.

The ministry’s latest directive, making changes to Rule 114 E of the Income-Tax Rules, 1962, follows its November notification wherein it had asked banks and post offices to furnish information of cash deposits, as per the specified limits, made after the demonetisation decision — from November 9 to December 30.

Banks and post offices have been asked to submit details of these transactions by January 15.

The notification states that the February 28 deadline for furnishing PAN or Form 60 is not applicable to those who have time deposits or a Basic Savings Bank Deposit Account (BSBDA).

Tax experts said the directive on PAN would help to link bank accounts with tax details of the person, making it easier for authorities to detect any tax evasion.

Please click here to read more.


The Indian Express, 8 January, 2016, http://indianexpress.com/article/india/govt-wants-details-of-cash-deposited-before-note-ban-4464392/


Related Articles

 

Write Comments

Your email address will not be published. Required fields are marked *

*

Video Archives

Archives

share on Facebook
Twitter
RSS
Feedback
Read Later

Contact Form

Please enter security code
      Close