https://www.taxtmi.com/news?id=17527 The Specified Bank Notes (Cessation of Liabilities) Act, 2017 criminalises holding, transferring or receiving demonetised notes from December 31, 2016, sets possession thresholds-more than ten pieces for individuals and more than twenty-five for study or numismatics-that attract prescribed penalties, prescribes minimum penalties and sanctions for false declarations by persons abroad during the demonetisation window, ends government and RBI liability for the demonetised notes, and authorises a first-class magistrate to impose penalties. en-us Thu, 02 Mar 2017 10:20:28 +0530 Thu, 02 Mar 2017 10:20:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17527 The Specified Bank Notes (Cessation of Liabilities) Act, 2017 criminalises holding, transferring or receiving demonetised notes from December 31, 2016, sets possession thresholds-more than ten pieces for individuals and more than twenty-five for study or numismatics-that attract prescribed penalties, prescribes minimum penalties and sanctions for false declarations by persons abroad during the demonetisation window, ends government and RBI liability for the demonetised notes, and authorises a first-class magistrate to impose penalties. News - Thu, 02 Mar 2017 10:20:28 +0530 https://www.taxtmi.com/news?id=17527