The finance ministry and the Reserve Bank of India have set up the new limitation on stores of old Rs 500 and Rs 1,000 until 30 December in another push to control IRS evasion.
As per a fund service notice stores of the demonetised notes above Rs 5,000 can be made just once until 30 December, the last date for banks to take stores of old notes. Nonetheless, there are no confinements on saving money under the Pradhan Mantri Garib Kalyan Yojana, a dark cash presentation conspires under altered tax collection laws.
"Tenders of SBNs (determined monetary orders) in abundance of Rs 5,000 into a financial balance will be gotten for credit just once amid the rest of the period till December 30, 2016," the RBI said in a notice to banks posted on its site.
The national bank has additionally said in such cases the notes will be credited to stores "simply in the wake of addressing given, on record, within the sight of no less than two authorities of the bank, in the matter of why this couldn't be saved before and accepting an attractive clarification".
"The clarification ought to be continued record to encourage a review trail at a later stage. A proper banner likewise ought to be brought up in CBS to that impact so that not any more tenders are permitted," the RBI has said.
In any case, banks can permit stores of up to Rs 5,000 in esteem to be credited to financial balances in the ordinary course until 30 December.
In addition, in the event that you have made stores littler that Rs 5,000 your record, and if such stores took together on aggregate premise surpass Rs 5,000 then they may, in any case, need to confront the inquiries from the bank's authorities. In such cases, you may not be permitted to make more stores from that point until December 30.
In any case, these principles are not pertinent to stores under the Taxation and Investment Regime for the Pradhan Mantri Garib Kalyan Yojana.
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