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Individuals in India can exchange damaged currency notes at any bank branch following varying rules based on the notes' condition and quantity. The process includes exchange limits and procedures for mutilated, soiled, and extremely damaged notes, with service charges as per RBI guidelines.
New regulations mandate PAN or Aadhaar for gold purchases over a limit. Income Tax Act prohibits cash transactions exceeding Rs 2 lakh in a day. KYC compliance and PMLA rules affect high-value transactions.
Employees should understand their employer's EPF setup for optimal tax benefits. Contributions to EPF accounts managed by EPFO or an exempted trust offer advantages. Unexempted EPF trusts have tax implications. Employers' role in managing EPF schemes is crucial, affecting tax benefits. Knowledge of the EPF withdrawal process and account access enhances financial planning.
2024/05/17 18:31:16
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