20 November 2016 - Wealth18.com

Nov202016 by wealth18.comNo Comments

List of petrol pumps giving Cash

News

Government has now allowed selected petrol pumps to give cash upto Rs 2000 on swiping of your debit card. At present this facility is available to state run petrol pumps which has SBI POS Machine only. This will be extended to other pumps within few days to other bank's machine (ICICI, HDFC,Citibank) Here is the list of 700 petrol pumps that are dispensing cash - petrol-pumps [xyz-ihs snippet="ad1"] Note that the daily limit for petrol pump is Rs 1 lakhs., which means they can only serve 50 customers in a day. In many petrol pumps bank staff has not setup machines or provided cash yet. See the latest rules for the exchange , or deposit or convert the old currency notes. Government are changing rules frequently. Check the latest update here.

How to convert black money into white money

How to Series

Government has banned Rs 500 / Rs 1000 notes to tackle the problem of black money, corruption, fake currency. Many people are now searching for " How to convert black money into white money". It is one of the leading search term on Google. I do not encourage black money or methods mentioned below to convert black money to white money. Now people may be reaching you to get their black money converted or giving you lucrative offers. The intention of this post is to raise awareness that some of these methods are common in India. Also, income tax department are also aware of such loopholes and will be keeping eye on these. 1a) Declare the black money as this current year's income and pay normal tax as advance tax. 1b) Dealing with God - You will be surprised that some people are not even sp...

What is Benami Property – All you need to know

NRI

You must be hearing this word a lot now a days - "Benami property". Government is taking actions to remove corruption and black money. After demonetisation of Rs 500 / 1000 notes, government is now starting to take action against benami properties. What is Benami property - As the name suggest, it means property without a name. In such transaction, the person doesnot buy the property in his / her name but buys in some other name. Exclusions for benami transactions: If the property purchased in name of spouse or child if the joint property with brother, sister etc for which amount is paid out on known source of income charitable or religious properties are excluded Benami Transactions (Prohibition) Act - Aug 2016 In order to tackle this issue, parliament has passed the Benami Transacti...