Cash Transactions – A Costly Affair

Here is the brief on amendments relating to cash transactions which will take effect from 1st April 2017. ♦ Restrictions on cash transactions above Rs. 3,00,000/- From 1st April onward any transaction (including transactions for capital assets) above Rs. 3,00,000/- shall be strictly done only through banking channels. There is a heavy penalty of amount equivalent to transaction amount above […]