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Cash transactions proposed to be capped at Rs 2 lakh

Cash transactions proposed to be capped at Rs 2 lakh

Tuesday, March 21, 2017, 6:44 PM

Cash transactions above Rs 2 lakh will be illegal once the Finance Bill gets the President’s assent. The government on Tuesday moved amendments to the Finance Bill 2017 proposing to further reduce the legal cash transaction limit from Rs 3 lakh to Rs 2 lakh. The Finance Bill is expected to receive Lok Sabha’s nod on Wednesday.
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