Restrictions on deposit of SBNs (Specified Bank Note/WOS Notes) into the accounts by allowing deposits in excess of Rs. 5000/- will be received for credit only once during the period till December 30th, 2016.

Restrictions on deposit of Rs. 500/- notes credit once till December 30th, 2016.

Subject: Restriction on Deposit of WOS Notes into SB Account 

        Kindly refer to the SB Order No. 12/2016 dated 08.11.2016 (Para No. 02 (iii) ) regarding deposits of WOS Notes. There is a partial modification in the acceptance of deposits of WOS notes. RBI vide their notification number RBI/2016-17/189 DCM (Plg) No. 1859/10.27.00/2016-17 dated 19.12.2016 has decided to place certain restrictions on deposit of SBNs (Specified Bank Note/WOS Notes) into the accounts by allowing deposits in excess of Rs. 5000/- will be received for credit only once during the period till December 30th, 2016. 

It is requested to kindly issue necessary instructions to all concerned in this regard.

With regards,

Sachin Kishore

Director (CBS)

Sansad Marg,

Dak Bhavan

Clarification given by Directorate to accept 500 and 1000 notes from MPKBY agents

Please ensure availability of sufficient stock of Annexure-II format at post offices as communicated vide SB order no. 12/2016. The Annexure-II is meant for exchange of Withdrawn Old series of banknotes in denomination of Rs 500/- and Rs 1000/- and its availability in post offices may be displayed on notice board of the Post Offices for information of general public.

In respect of clarificatory instructions issued on 9.11.2016 some of the Circles have raised some queries on point no. 02 regarding acceptance of deposits (WOS bank notes) from MPKBY agents. It is clarified that deposits (WOS bank notes) from MPKBY agents can be accepted up 30-12-2016 and the existing instructions on cash deposit limits by MPKBY agents is to be followed. 

Gratefully from India Post Finacle Guide

वित्त मंत्रालय ने तय की सोना रखने की सीमा

भारत सरकार ने अब नागरिकों के पास सोना रखने की सीमा तय कर दी है:-

• अविवाहित महिलाएंअपने पास 250 ग्राम तक  सोना रख सकती हैं।
• पुरुषों अपने पास 100 ग्राम तक सोना रख सकते हैं। 
• विवाहित महिलाएं अपने पास 500 ग्राम तक सोना रख सकती हैं। 
• अगर आयकर छापे के दौरान तय सीमा से अधिक सोना या जेवर पाये गये और उसकी काली कमाई से खरीद नहीं करने संबंधी साक्ष्‍य नहीं उपलब्‍ध कराए गये तो उसे जब्‍त कर टैक्‍स वसूला जाएगा।
• पुश्तैनी गहनों और अपनी इनकम टैक्‍स रिटर्न में बताई गई अामदनी के पैसों से खरीदे गए सोने पर भी टैक्‍स नहीं लगेगा।

Regarding acceptance of WOS currency notes in Post Office Saving Bank Accounts vide SB Order No. 13/2016 dated 23.11.2016

	Vide SB Order No. 13/2016 dated 23.11.2016 regarding acceptance of Rs. 500 & 1000 currency notes in Post Office Saving Bank Account only and not in other accounts like RD, TD, MIS, SSA, SCSS, PPF, KVP, NSC etc.