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Cash Transaction News

Cash Transaction Limit: Things You Should Know

Cash exchange and transactions are still pretty common and habitual for Indians despite various initiatives taken by the government to control it. A recent PTI report suggested that India's cash withdrawals were up by 22 percent in the past year, clearly ...

You Can Now Repay Your Entire Loan in Cash Provided Monthly EMI Is Less Than Rs. 2 Lakhs

The last budget included a new tax rule which made cash receipts or payment transactions of Rs. 2 lakh or more illegal and also levied some penalty amount. And as per the yesterday's circular by the income tax department, it appeared ...

Cash Transactions Of Rs. 2 lakh And Above To Impose An Equivalent Penalty on Receiver: IT Department

Through the Finance Act 2017, the department of Income Tax has put a ban on cash transactions equal to or over Rs. 2 lakhs with effect from the start of the new financial year i.e. April 1, 2017. Reiterating ...