Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
»
1-min read

Cash Dealings Above Rs 3 Lakh Banned From April 1: Jaitley

Continuing with government steps to clamp down on black money, Finance Minister Arun Jaitley on Wednesday proposed to ban all cash transactions above Rs 3 lakh beginning April 1, 2017.

Press Trust Of India

Updated:February 1, 2017, 6:05 PM IST
facebookTwittergoogleskypewhatsapp
Cash Dealings Above Rs 3 Lakh Banned From April 1: Jaitley
Image for representation (Photo: Reuters)
Loading...
New Delhi: Continuing with government steps to clamp down on black money, Finance Minister Arun Jaitley on Wednesday proposed to ban all cash transactions above Rs 3 lakh beginning April 1, 2017.

The decision to ban cash transactions beyond a threshold is based on the recommendation of the Special Investigation Team on black money that was set up by the Supreme Court, Jaitley said while presenting Union Budget 2017-18 in Parliament.

All cash transactions above Rs 3 lakh will be banned, he said.

The SIT, headed by Justice M B Shah (retired), in July had submitted its fifth report to the Supreme Court on steps needed to curb black money.

Noting that a large amount of unaccounted wealth is stored in cash, SIT had said: "Having considered the provisions which exist in this regard in various countries and also having considered various reports and observations of courts regarding cash transactions, the SIT felt that there is a need to put an upper limit to cash transactions."

It recommended a total ban on cash transactions of Rs 3 lakh and above and that "an Act be framed to declare such transactions as illegal and punishable under law".





| Edited by: Sujit Nath
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 
Most Active
Company Price Change %Gain
SBI 361.70 1.79
Larsen 1,596.00 3.36
ICICI Bank 435.50 0.87
Yes Bank 146.80 3.97
Reliance 1,310.65 -1.96
Company Price Change %Gain
Maruti Suzuki 7,047.90 -0.68
Larsen 1,590.00 3.00
Reliance 1,310.70 -1.95
Yes Bank 146.40 3.61
SBI 361.45 1.93
Top Gainers
Company Price Change %Gain
Tata Steel 512.25 5.80
Yes Bank 146.80 3.97
Grasim 935.30 2.77
NTPC 133.20 3.14
Larsen 1,596.00 3.36
Company Price Change %Gain
Tata Steel 509.90 5.46
Yes Bank 146.40 3.61
NTPC 133.35 3.21
Larsen 1,590.00 3.00
Axis Bank 813.50 2.50
Top Losers
Company Price Change %Gain
Zee Entertain 361.00 -4.21
IndusInd Bank 1,612.80 -2.19
Reliance 1,310.65 -1.96
Tech Mahindra 726.05 -1.33
Asian Paints 1,366.85 -1.27
Company Price Change %Gain
IndusInd Bank 1,615.05 -2.11
Reliance 1,310.70 -1.95
Asian Paints 1,370.00 -1.12
ONGC 173.00 -0.80
Bharti Airtel 350.80 -0.71

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results