Seeking to quell apprehensions based on rumours, the government on Thursday said there is no limit on legitimate holding of gold and jewellery, including from inheritance, and there would be no seizure of bullion up to a certain limit even if that does not seem to match income.
"Jewellery and ornaments to the extent of 500 gm for married lady, 250 gm for unmarried lady and 100 gm for male member will not be seized, even if prima facie, it does not seem to be matching with the income record of the assessee," it said in the second statement.
Opposition Meets President About I-T Law Amendment
Eighteen Opposition lead by Rahul Gandhi met President Pranab Mukherjee on Thursday to talk about the I-T law amendment bill.
Rahul Gandhi said that the Bill was passed without any discussion.
NHAI Loses Rs 1,238 Crore by Forgoing Toll
The National Highway Authority of India would suffer an income loss of Rs 1,238 crore due to suspension of toll collection on highways till 2 December post demonetisation.
NHAI issued necessary instructions to concessionaries, including BOT, OMT operators, and the commuters have been allowed to travel through the user fee plazas without paying any fee from 9 November 2016 to 2 December.
Taking into account exemption till 2December 2 (midnight), the income loss to NHAI due to suspension of toll collection on highways is be around Rs 1,238 crore.6 (17:30 hrs)," the Minister informed the House.
1.80 Lakh ATMs Re-Calibrated to Dispense Rs 500, 2,000 Notes
Nearly 90 percent of the 2 lakh ATMs deployed across the country have been re-calibrated to dispense the new Rs 500 and Rs 2,000 notes, said a key maker of the machines even as millions of people continue to face acute cash shortages in the aftermath of demonetisation last month.
As per the plan, all the ATMs should have been ready by yesterday.
The Quint’s Reports on Pay Day
Its the first of the month and people have started receiving money in their bank accounts. But with banks and ATMs running out of cash, what can people do with the money in their accounts?
The Quint went out to report on the problems faced by people on Pay Day.