Payee Has To Pay the 100% Penalty on Cash Payment above Rs 2 Lacs
by The government has banned cash transactions of Rs. 2 lakh or more from April 1, 2017, through the Finance Act 2017, Now Cash transactions of over Rs. 2 lakh entail levy of 100% penalty on receiver of the amount. It means payee of the money through cash transaction will be penalized by 100% of the […]