Following are some of the important points around getting replacement currency notes:
- Till 14 November 2016 midnight, existing notes of Rs. 500 and 1000 can be used in railway station, bus station and airport for buying travel tickets. They can also be used in the government hospitals and medical stores.
- After 30 December 2016, old currency notes can be replaced at the designated offices to be setup by RBI.
- While depositing old currency notes in any bank account there is a limit on the amount and if total amount in that account exceeds Rs. 250000 then IT department may inquire further regarding source of income and the amount shall be taxable, along with the applicable fine.
- Amount upto Rs. 4000 can be exchanged with the new currency notes. And any amount over Rs. 4000 will be deposited in the bank account.
- One can get amount deposited(exchanged) in relatives/friends account but for that customer has to provide his/her ID proof and written permission of relatives/friends, whose bank account is to be used.
Information in hindi
This post first appeared on Existing 500 And 1000 Rupee Currency Notes Not Valid, please read the originial post: here
