Clarification By CBDT(Central Board Of Direct Taxes): Ban On Cash Transaction Limit Rs 2 Lakh In India
Hello Guy’s Here Come With New Update Of Cash Transaction Ban In India Limit By 2 Lakh.
So You Guy’s What You Think It’s Right Or Wrong Decision? From My Self Is Good Decision to Maintain Cash Transaction And One More Point To Stop Corruption In India.
Many People Thought It’s How To Help In Stop Corruption And What Is Meaning Of This Kind Of Ban. Here I am Explain From My Self Regarding Cash Transaction Ban From CBDT.
CBDT(Central Board Of Direct Taxes) Announce On 6th April 2017 That Any Person Can not Done Cash Transaction Limit By 2 Lakh. If They Can Do Over Limit Transaction Then Special Team Will Watch And Asking About Clarification Regarding That Transaction.
Current Indian Government’s Vision Toward to Cashless Society. Government Try to Reduce All Cash Transaction And Prefer to People Use Digital Payment Instruments.
CBDT Is Announce This Cash Ban Limit Is Directly Support Of Government Plan. Using This Limit Public Will Less Use Cash Transaction From Them Self. So Other Benefits Also That All Taxes Can Easily Monitor From Digital Payments And Then Can Get Proper Taxes From Sources.
Our Finance Minister Mr Arun Jately Announce Already In 2017-2018 Budget Cash Transaction Limit Rs 3Lakhs. But Decrease This Limit Using Pass Amended By Financial Act 2017 In Parliament.
This Limit Can Not Apply On Government Office, Post Office Or Any Government Institution.
Our Financial Act Said That any Capital Cash expenditure Above Then Rs 10,000 That Not Liable For depreciation allowance or investment-linked deduction .
Overall Indian Government Main Focus On Reduce Cash Transaction, Mission To Make Complete Cashless Indian Society And Motivate Digital Payment so Increase To Taxes And Easily Handel By Government IT Staff.
So Many Digital Payment Option Available In Market Right Now. I Have Mention Already This In My Previous Post. So I Also Request To Public Use as much as Possible Digital Payments.
And For All Merchant Any Kind Of If Facing Accepting Digital Payment i ll Guide You. There Is No Major Issue So Many company Available With Digital Wallet And Payment System So can Easily Help You In Getting Money.