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CASH TRANSACTIONS LIMIT IN INCOME TAX | CASH TRANSACTIONS LIMIT IN GST | CASH TRANSACTION LIMIT

In order to restrict cash transactions, the government has come out with several
provisions and related rules to prohibit various types of cash payments in the Finance
Acts. The effects of restrictions under provisions of income tax act are as follows:
Restrict cash transactions by disallowances of expenses or deduction under chapter
VIA of income tax act in computation of taxable income.
Penalizing cash transactions above threshold limits to create effective
Some of the provisions under income tax act and relevant income tax rules are discussed in this video.

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