Aadhaar number must to open Bank Account – Update Your Account by 31 December 2017

In an another important move to curb black money and money laundering activities, the Government of India has made it mandatory to produce Aadhaar number to open bank accounts. All the existing and new account holders must update their accounts with Aadhaar numbers. Seeding Aadhaar with bank accounts is a must now following the mandate … Read more

100 Percent Penalty for Cash Transactions above 2 Lakhs

Income Tax Department of Government of India has warned the general public of dire consequences if the daily cash transactions cross Rs. 2 lakhs in their bank accounts. 100 percent penalty will be imposed on the account holders concerned if the rule is violated by anybody. In a move to curb black money, the Government … Read more