Govt proposes to lower cash transaction limit to Rs 2 lakh ..

[Sai Jai]

The Centre has decided to further tighten norms to discourage payments by cash as well as curb black money. To this end, it has proposed to amend the Finance Bill, 2017 to lower the limit of cash transaction to Rs 2 lakh from the earlier proposal of Rs 3 lakh.

“The penalty for violating this is a fine equivalent to the amount of transaction,” Revenue Secretary Hasmukh Adhia tweeted on Tuesday.

The Finance Bill is at present being discussed in the Lok Sabha.

Govt proposes to lower cash transaction limit to Rs 2 lakh: The Hindu Business Line - Mobile edition

For More Info check the below article too

Cash Transactions Should Be Capped At 2, Not 3 Lakhs, Says Government – NDTV Profit

 

[Bapun]

Daily making updates regarding cash transactions limit.. Government is making people confuse by doing these... should take one full and final decision...

 

[karan_hdl]

Daily making updates regarding cash transactions limit.. Government is making people confuse by doing these... should take one full and final decision...

Govt wants us to use digital payment but doesn't have any Clue about how to do it so they are doing all kind of things.. RBI payment vision which is formulated in the past even before current Govt took office put in place all sorts of Guidlines to increase Digital Mode of Payments without even public aware of it by providing us with all sort of digital Payment avenues but today the present Govt seems to act as if it's their own invention and trying to do it in an Artificial way and this is repelling people away from Digital mode.