Clarification regarding seizure of Old High Denomination (Rs. 500 and Rs. 1000) Bank Notes (OHDBNs) under the Income-tax Act, 1961

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.... Room No. 254, North Block, New Delhi, dated December 1, 2016 To All the Principal CCsIT All the DsGIT(Inv.) Sub : Clarification regarding seizure of Old High Denomination (Rs. 500 and Rs. 1000) Bank Notes (OHDBNs) under the Income-tax Act, 1961 - reg. Madam/Sir, With a view to curbing fake Indian currency notes which are used for financing abversive activities su....

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....light of provisions of the said notification. Attention is invited to the provisions of the said notification, more particularly the following extracts: ".... The central government hereby declares that the specified bank notes shall cease to be legal tender with effect from the 9th November, 2016 to the extent specified below..." " ... The specified bank notes held by a person .....