News Report About Cash Transaction Of More Than 2 Lakh

News Report About Cash Transaction Of More Than 2 Lakh
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The Income Tax Department has warned people that penalty of two lakh rupees or more will be penalized on cash payments. In a public message, the Income Tax Department said that a person is

forbidden to receive an amount of rupees or more. If this limit is violated then it can be penalized. Similarly, for cash transfer of Rs 20,000 cash transaction and for cash related to business related expenses, more than Rs 10,000 / - cash payment is also banned. The tax department has also told the public to report violations of these rules. The Income Tax department has said that information on this information is blackmoneyinfo @ incometax. gov.in is given above.
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