Deposit over Rs 5000 using old notes cqan be made only once per account: FM

December 19, 2016 12:49

The finance ministry has, in a new directive, said that deposit of more than Rs 5000 using old Rs 500 and Rs 1000 notes can be made only once per account till December 30.

No limit on quantity or value of specified bank notes tendered for payment & deposit under Taxation & Investment Regime for PMGKY 2016.

Credit in such cases wil be afforded only after the tenderer answers questions as to why this could not be deposited earlier; only after receiving a satisfactory explanation can the credit be accepted.

Read the full directive HERE

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