SB Order 23 / 2020 || Reduction in Rate of Tax Deduction at Source (TDS) in respect of POSB Schemes & Tax Collection at Source (TCS)
SOP for ₹2000 Banknote Booking at Post Offices Counters: What You Need to Know
Standard Operating Procedure (SOP) has been introduced that outlines the process for ₹2000 denomination banknotes being booked at post office counters. This move, aligned with the Reserve Bank of India's (RBI) regulations, seeks to streamline the handling of high-value currency transactions. Here's what you need to understand about the withdrawal of ₹2000 banknotes from circulation and the steps you need to follow under the new system. Overview of the SOP : The SOP comes at a time when the circulation of ₹2000 banknotes is being meticulously regulated. The RBI, aiming to prevent misuse and keep the flow of these banknotes transparent, has collaborated with the postal department to set up a clear procedure. The SOP details include the permissible amounts for transaction, the booking process, the role of post office personnel, and the mandatory inclusion of the sender’s details and declaration. Step-by-Step Guide for Customers : For customers looking to send ₹2000 denomination no
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