Congress holds protest against note ban

Municipalities in Haryana recorded maximum increase (over five times) in collection of property tax and other user charges in November, following demonetisation of Rs 500 and Rs 1,000 notes, as compared to the amount they collected during the same month last year.

Several crucial documents relating to the official's properties and his benamis were also seized during raids. The sleuths are yet to open his lockers in various banks, which could reveal more treasure.

The deposited amount from the two accounts was allegedly channelled into accounts of suspected shell companies. ED found only Rs 1.4 crore at the time of freezing the accounts. The role of a city-based bullion trader is being probed in the case, sources said.

The CBI on Friday arrested two Reserve Bank officers here for allegedly distributing, for a commission, new Rs 2,000 and Rs 100 notes beyond the stipulated margin of Rs 4,000 per person per day. The arrests come close on the heels of the arrest of Michael K, another RBI employee, last week. He was allegedly involved in a currency-exchange racket.

Demonetisation may have choked the flow of Bangladeshi patients to Kolkata, but has done a huge favour to city hospitals treating them. Many hospitals have shored up their earnings with foreign currency --be it US dollars or Bangladeshi taka. The Bangladeshi taka -which has so far been unacceptable -is now being readily received by at least three private hospitals in the city along with dollars. Some have even opened exchange counters to make it easier for the visitors.With cash still inadequate, it has helped both visiting patients and hospitals to get around the payment blues.

Amid dampened spirits after demonetisation, Gujarat seems to be banking on upcoming Vibrant Gujarat Summit to soothe the nerves of corporate world. The 8th edition of the biennial summit will be inaugurated by Prime Minister Narendra Modi on January 10.

Police have sought transaction details of two accounts and CCTV footage from Axis Bank in Noida connection with a raid carried out at the bank branch by the Income Tax Department which had unearthed Rs 60 crore from the accounts of 20 shell companies. Police has sought the details after an FIR was lodged on the complaint of Delhi resident, Nandu Paswan, who claimed that someone had opened a current account in the name of a company in which he was named as a proprietor and a saving account in his name. He had lodged the complaint after Income Tax Department detected the fake accounts and interrogated him.

Coal imports, which dropped by 16% to 14 million tonnes (MT) in November, are likely to decline this month as well due to factors like demonetisation and higher prices in global markets.

The Income Tax department has seized Rs 66 lakh cash, all in new Rs 2000 notes, as part of the anti-black money crackdown operations in the city. The first incident, that occurred on the night of December 16, was reported at the Telugu Academy in Himayatnagar when an I-T team intercepted few people who ran into a nearby apartment on seeing the team. "Search of the apartment led to recovery of Rs 36 lakh cash, all in Rs 2000 denomination. Sources of the cash are being probed into," I-T sources said. In the second incident in the same city on December 17, department investigators along with police intercepted a speeding Honda Activa in the Tank Bund area. "Cash of Rs 30 lakh in Rs 2000 denomination was found with two persons. The case is being probed," they said.

Rs 18 lakh in new currency notes have been seized from Sector 57 here and three men have been arrested in this connection, police said on Sunday. The three accused--Vinay Kumar from Jind, and Mahendra Kumar and Praveen Kumar from Hisar--were arrested last evening by a team of Uttar Pradesh Anti Terrorist Squad and Income Tax Department. "The arrests were made following a tip off that some people were carrying a huge amount of counterfeit currency in Bhishanpura village in Sector 57," Deputy Superintendent of Police UP ATS (Western UP Wing) Anoop Singh said. The team searched the car of the accused following which Rs 18 lakh in new currency notes of Rs 2000 was found, he said.

Rahul Gandhi called demonetisation a 'Modi-made disaster'. He alleged that PM Modi undertook the exercise to repay the loans of "50 super rich families". He said these families used their black money to market Modi for the PM's post.

Tax department said there are enough provisions in I-T Act to scrutinise accounts of political parties. They are also subject to other provisions of tax laws, including filing of returns. Political parties are as liable to be questioned by authorities as anyone else.

Over Rs 9,000 crore were deposited in district cooperative banks across 17 states. The deposits were made in just 5 days - between November 10 and 15. The demonetisation decision kicked in on November 9.

Union Finance Minister Arun Jaitley said political parties haven't been given any exemptions post-demonetisation. He said that there was no change in the provisions of the Section 13A of the Income Tax Act 1961. Political parties' income comes in the purview of this section.

Arun Jaitley said that government does not intend to reprint all the currency that has been demonetised. He said that government wants to have a 'significant and substantial' part of it in digital form.

Enforcement Directorate (ED) investigations revealed that gold biscuits worth Rs 2,700cr in cash was bought with demonitised notes in November 2016 in Hyderabad alone. The persons who did the purchase went underground thereafter. ED sources told TOI that 8,000kgs of gold was imported into Hyderabad between November 8 and 30, the period post demonitisation.

Mayawati said that people will not forgive the BJP government which has proved to be so "insensitive". The BSP chief said that BJP was not even bothered about the negative feedback it got from its MPs in UP about the note ban exercise. "People are not able to get their own money,'' she said.

UP Anti-Terrorist Squad (ATS) and Income Tax department conducted a joint raid and arrested three persons with Rs 18 lakh new currency notes from Noida Sector 57 on Saturday evening. The accused Mahendra Kumar and Praveen Kumar are natives of Hisar and Vinay Kumar from Jind in Haryana. The police have also seized a Toyota Corolla from their possession which they used for the crime.

A farmer attempted suicide by consuming poison in a bank in Mandsaur district on Saturday after money was not credited to his account against a cheque deposited by him nine days ago. The incident took place in the morning in Narayangarh town of the district when one Radheshyam Prajapati, 45, consumed poisonous substance at a branch of Central Bank of India, Narayangarh police said.

Gujarat: 'Cashless wedding' held in Surat. Guests offer gift money through cheques and credit/debit cards #DeMonetisation (17.12.16) pic.twitter.com/IMsRsaXge7

& mdash; ANI (@ANI_news) December 18, 2016

(ANI)

PM se poochna chahta hun Mallya Hindustan ka chor hai, aapne use Rs 1200 cr ki toffee kyun khilayi? Aapne uska loan maaf kyun kiya?: RGandhi pic.twitter.com/Wx6Qhcla27

— ANI (@ANI_news) December 17, 2016

Police has recovered Rs 34 lakhs (Rs 13 lakh in new Rs 2000 denomination notes, rest Rs 100 notes) from the SI and others, further probe on.

#CBI books Assistant Commercial Manager of #Railways for alleged conversion of Rs 8.22 lakh of demonetised currency.

— Press Trust of India (@PTI_News) December 17, 2016

Mumbai: Police detained 4 persons with new Rs 2000 notes worth Rs 1 crore 40 lakhs near Andheri last night, Income tax department informed. pic.twitter.com/TlvRLhiJ0u

— ANI (@ANI_news) December 17, 2016

In Modiji’s cashless economy, 5-6% cash will magically disappear from every transaction and those 1% super-rich ppl will get it-Rahul Gandhi pic.twitter.com/tQkFmF1TeK

— ANI (@ANI_news) December 16, 2016