New Delhi: In a bid to give a push to Digital Economy and weed-out corruption and black money, the Union Minister for Finance and Corporate Affairs Arun Jaitley in his Budget Speech said that the Government has decided that no transaction above ₹3 lakh will be permitted in cash. Accepting a suggestion by Special Investigation Team on Black Money to ban cash transactions above ₹3 lakhs, the Finance Minister has proposed an amendment to the Income-tax Act in the Finance Bill.
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