https://www.taxtmi.com/news?id=17209 The Withdrawal of Legal Tender declared certain Rs. 500 and Rs. 1000 banknotes invalid for payment and store of value from the cessation date, with exchange and deposit windows at banks, post offices and designated RBI offices that largely closed on the notified date. The Specified Bank Notes (Cessation of Liabilities) Ordinance provides a limited grace facility at five RBI offices for eligible residents and non residents abroad during the exchange window, permits post cessation deposits subject to verification and KYC compliance, prescribes penal fines for false declarations and unlawful holding or transfer of specified notes, and establishes corporate liability for contraventions. en-us Wed, 04 Jan 2017 16:49:43 +0530 Wed, 04 Jan 2017 16:49:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17209 The Withdrawal of Legal Tender declared certain Rs. 500 and Rs. 1000 banknotes invalid for payment and store of value from the cessation date, with exchange and deposit windows at banks, post offices and designated RBI offices that largely closed on the notified date. The Specified Bank Notes (Cessation of Liabilities) Ordinance provides a limited grace facility at five RBI offices for eligible residents and non residents abroad during the exchange window, permits post cessation deposits subject to verification and KYC compliance, prescribes penal fines for false declarations and unlawful holding or transfer of specified notes, and establishes corporate liability for contraventions. News - Wed, 04 Jan 2017 16:49:43 +0530 https://www.taxtmi.com/news?id=17209