Daily Archives: May 19, 2023

Rs 2000 Denomination Banknotes – Withdrawal from Circulation; Will continue  as Legal Tender

By | May 19, 2023
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Rs 2000 Denomination Banknotes – Withdrawal from Circulation; Will continue  as Legal Tender RBI/2023-24/32 DCM(Plg) No.S-236/10.27.00/2023-24 May 19, 2023 The Chairman / Managing Director/ Chief Executive Officer All Banks Dear Sir /Madam ₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue  as Legal Tender ₹2000 denomination banknote was introduced in November 2016 under Section  24(1)… Read More »

Clarification regarding applicability of Tax Collection at Source to small Debit/Credit Transactions under LRS

By | May 19, 2023
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Clarification regarding applicability of Tax Collection at Source to small Debit/Credit Transactions under LRS Posted On: 19 MAY 2023 7:11PM by PIB Delhi Concerns have been raised about the applicability of Tax Collection at Source (TCS) to small transactions under the Liberalized Remittance Scheme (LRS) from July 1, 2023. To avoid any procedural ambiguity, it… Read More »