About this document

During Demonetization (Nov 2016 - Dec 2016) : Banking Regulation Act, 1949 by bhambubhavika is a document available to read on EtoBox.

The document outlines the evolution of withdrawal limits in India from demonetization in November 2016, where caps were imposed, to a transition period in 2017 that phased out these limits. In 2018, there were no statutory withdrawal limits, allowing significant cash withdrawals without restrictions, but new laws introduced in 2017 restricted cash receipts over ₹2 lakh. By 2019, a new taxation rule was implemented requiring banks to deduct TDS on cash withdrawals exceeding ₹1 crore, serving as a financial d

Author

bhambubhavika

Language

EN