Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of 500/- and 1000/- (Updated as on November 18, 2016) https://www.taxtmi.com/news?id=16870 Withdrawal of legal tender status for specified high denomination banknotes prohibits their use for transactions and establishes exchange and deposit routes at RBI issue offices, bank branches and post offices; limited over the counter cash exchange is allowed once with indelible ink marking, with excess amounts credited to bank accounts, acceptance of pre 2005 notes, reporting and identity requirements for deposits and loans, and permitted use of specified notes for defined essential services and tourist exchange under conditions. en-us Fri, 18 Nov 2016 17:49:50 +0530 Fri, 18 Nov 2016 17:49:50 +0530 TaxTMI RSS Generator Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of 500/- and 1000/- (Updated as on November 18, 2016) https://www.taxtmi.com/news?id=16870 Withdrawal of legal tender status for specified high denomination banknotes prohibits their use for transactions and establishes exchange and deposit routes at RBI issue offices, bank branches and post offices; limited over the counter cash exchange is allowed once with indelible ink marking, with excess amounts credited to bank accounts, acceptance of pre 2005 notes, reporting and identity requirements for deposits and loans, and permitted use of specified notes for defined essential services and tourist exchange under conditions. News - Fri, 18 Nov 2016 17:49:50 +0530 https://www.taxtmi.com/news?id=16870