Tax to be levied on cash transaction over Rs. 50,000/-

Submitted by Tax_centrik on 27/01/2017

The Committee headed by Andhra Pradesh Chief Minister N Chandra Babu Naidu submitted the interim report on digital payment to Prime Minister Narendra Modi. It is recommended to levy banking cash transaction tax on withdrawal of Rs 50,000/- from banks to discourage cash transactions throughout the country.

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