Download Exchange form Rs 500 & Rs 1000: The bold move by the PM Narendra Modi as he declared that currency notes of Rs 1000 and Rs 500 denomination will not be legal tender. People can deposit notes of Rs 1000 and Rs 500 in their banks from November 10 till December 30, 2016.
Exchanging your existing Rs 500, Rs 1000 notes will not only involve your carrying your id proof and setting aside some time to stand in the queue. You will also have to fill up a form released by government.
This is what the form looks like:
Steps to fill the form in correct manner:
- Fill in your name, and tick the identity proof you are carrying, you need to carry the original identity card along with a photocopy of same and show it at the counter while exchanging.
- Allowed identity proofs include Aadhaar Card, Driving License, Voter ID Card, Pass Port, NREGA Card, PAN Card, Identity Card Issued by Government Department, Public Sector Unit to its Staff.
- Fill in the Identification Number mentioned on the proof you are submitting.
- Fill in the number of currency notes you are willing to exchange next to the denomination, write the grand total, below.
- Remember, you cannot get more than Rs 4,000 exchanged at a time till 24th November.
- Put you signature below and get your money from the cashier in Rs 100 currency.
What more you can do with the Old Denomination Notes
- You can deposit the old notes at the nearest bank from November 10 till 30-12- 2016, or in any nearest Post office.
- Carry your identity card along the photocopy of same when you head out to a bank or post office.
- In case you are not able to submit all the old notes till December 30, 2016, you can submit a declaration form to the nearest designated office of RBI and can submit all the old notes there until 31-3- 2017.
- It would be better if you write down the serial number of all the notes that you submit.
- Till November 24, you can exchange Rs 4000 and later this threshold limit will be increased.
- The limit to withdraw new notes will be Rs 10000 per day and Rs 20000 per week.
- Carry a pen with you to avoid the hassle.
- Submit the amount of money that you can explain to the tax department.
- Cash deposit up to Rs 2.5 lakh is exempted from tax and mismatch is liable to a penalty of 200%.