CBDT Takes Steps to discourage Cash transactions in India. Budget 2017 takes Steps to discourage Cash transactions & curb Black Money. Various legislative steps have been taken by the Finance Act, 2017 to curb black money by discouraging cash transaction and by promoting digital economy.
बैंक-पोस्ट ऑफिस से कर सकेंगे 2 लाख से ज्यादा का कैश ट्रांजैक्शन: CBDT
- सीबीडीटी ने कहा है कि नए रूल सरकारी ऑफिसों, बैंक और पोस्ट आफिस सहित कोऑपरेटिव बैंक के सेविंग अकाउट में डिपॉजिट करने पर लागू नहीं होंगे। लोग 2 लाख रुपए से ज्यादा भी डिपॉजिट कर सकते हैं।
- फाइनेंस एक्ट 2017 में बदलाव कर 2 लाख रुपए से ज्यादा के कैश ट्रांजैक्शन पर रोक लगा दी गई थी। 2 लाख रुपए से ऊपर के ट्रांजैक्शन के बराबर अमाउंट का जुर्माना लगाने का रूल बनाया गया था। यह जुर्माना कैश लेने वाले पर लगाया गया था।
- सेंट्रल बोर्ड ऑफ डायरेक्ट टैक्सेस (सीबीडीटी) ने कहा कि आईटी एक्ट का सेक्शन 269ST बैंक-पोस्ट आफिस पर लागू नहीं होगा। यह सेक्शन हाल ही में जोड़ा गया है।
- सीबीडीटी ने कहा है कि यह नियम बैंक, पोस्ट आफिस और कॉपरेटिव बैंक के सेविंग अकाउंट पर लागू नहीं होंगे। इसको लेकर जरूरी नोटिफिकेशन जारी किया जाएगा।
CBDT Takes Steps to discourage Cash transactions & curb Black Money
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 5th April, 2017.
These prominently include placing restriction on cash transaction by introduction of new sections 269ST & 271DA to the Income-tax Act. It has been provided that no person (other than those specified therein) shall receive an amount of two lakh rupees or more,
- (a) in aggregate from a person in a day;
- (b) in respect of a single transaction; or
- (c) in respect of transactions relating to one event or occasion from a person,
otherwise than by an account payee cheque or account payee bank draft or use of electronic clearing system through a bank account.
Any contravention to the said provision shall attract penalty of a sum equal to the amount of such receipt. However, the said restriction is not applicable to any receipt by Government, banking company, post office savings bank or co-operative bank. It has also been decided that the restriction on cash transaction shall not apply to withdrawal of cash from a bank, cooperative bank or a post office savings bank. Necessary notification in this regard is being issued.
It has also been provided that any capital expenditure in cash exceeding rupees ten thousand shall not be eligible for claiming depreciation allowance or investment-linked deduction. Similarly, the limit on revenue expenditure in cash has been reduced from Rs.20,000 to Rs.10,000.
In order to promote digital payments in case of small unorganized businesses, the rate of presumptive taxation has been reduced from 8% to 6% for the amount of turnover realised through cheque/digital mode.
Restriction on receipt of cash donation up to Rs. 2000 has been provided on political parties for availing exemption from Income-tax. Further, it has also mandated that any donation in cash exceeding Rs.2000 to a charitable institution shall not be allowed as a deduction under the Income-tax Act.
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