Date extended to use old currency to 14 November 2016!

In the midst of crisis, the government has finally offered some relief. At 8 pm on Nov 8, 2016, the whole country saw an unprecedented announcement by our beloved PM Modi to scrap two of our largest currency notes of Rs.500 & Rs.1000. However, understanding the impact of its sudden decision, Government had kept a few exceptions i.e. old Rs 1000 & Rs 500 notes would continue to be accepted as legal tender for next 72 hours then i.e. until midnight of 11 November 2016 for the following purposes:

• for hospitalisation charges at government hospitals;
• for purchasing bus tickets at government bus stands for travel by state government or state PSU buses;
• for purchasing train tickets at railway stations;
• for purchasing air tickets at airport;
• for purchase of petrol, diesel and gas at the stations operating under the authorisation of Public Sector Oil Marketing Companies;
• for making payments on all toll plazas on the State and National Highways;
• for making payments on household utility bills.

Addressing the genuine hardships faced by the people this exception window time limit has been extended, till 14 Nov 2016, with a few changes and additions, the final list being –

• for making payments in Government hospitals for medical treatment and pharmacies in Government hospitals for buying medicines with doctor’s prescription;
• for making payments at railway ticketing counters, ticket counters of Government or Public Sector Undertakings buses and airline ticketing counters at airports for purchase of tickets;
• for purchases at consumer cooperative stores operated under authorisation of Central or State Governments and the customers shall provide their identity proof;
• for purchase at milk booths operating under authorisation of the Central or State Governments;
• for purchase of petrol, diesel and gas at the stations operating under the authorisation of Public Sector Oil Marketing Companies;
• for payments at crematoria and burial grounds;
• at international airports, for arriving and departing passengers, who possess specified bank notes, the value of which does not exceed Rs. 5000 to exchange them for notes having legal tender character;
• for foreign tourists to exchange foreign currency or specified bank notes, the value of which does not Rs. 5000 to exchange them for notes having legal tender character.
• for making payments in all pharmacies on production of doctor's prescription and proof of identity;
• for payments on purchases LPG gas cylinders;
• for making payments to catering services on board, during travel by rail;
• for making payments for purchasing tickets for travel by suburban and metro rail services;
• for making payments for purchase of entry tickets for any monument maintained by the Archaeological Survey of India.
• for making payments towards any fees, charges, taxes or penalties, payable to the Central or State Governments including Municipal and local bodies;
• for making payments towards utility charges including water and electricity which shall be restricted to individuals or households for payment of only arrears or current charges and no advance payments shall be allowed;
• Deletion of Payments in toll-plazas of the State and National Highways. For this separate instructions from Ministry of Road Transport and Highways are expected.

Though a small extension it may see, but definitely a help for millions of people. Now all that we can expect and hope is government becoming more liberal and bringing a friendly law for the masses to protect them from the harassment of Income Tax Notices.