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Latest India Tax News 21th November 2016

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  • Latest India Tax News 21th November 2016

    • CBDT notification on amendment in Rule 114B for compulsory quoting of pan in case of cash deposit exceeding 50k in a single day or aggregating to more than 2.5 lakh during the period 09.11.16 till 30.12.16
    • Amendment in Rule 114E for filing AIR report as required u./s 285BA w.r.t reporting by banking company and a cooperative bank on account of aggregate cash deposits in one or more current account of a person in excess of Rs12.5 lakhs OR Rs2.5 lakh or more in one or more account of a person during 09.11.16 till 30.12.16.
    • Income Tax dept starts issuing notices for cash deposits of more than Rs 250,000/- on or after 09/11/2016.