cash dealing: I-T department warns against cash dealings above Rs 2 lakh–Economic Times–29.08.2017

The Income-Tax Department on Monday warned people against cash dealings of Rs 2 lakh and more, saying any violation of this cap will invite strict penalty under law.

In a public message, the department said “accepting Rs 2 lakh or more in aggregate from a single person in a day for one or more transactions relating to one event or occasion is prohibited”.

via cash dealing: I-T department warns against cash dealings above Rs 2 lakh

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