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Category: Income Tax

Cash Transaction – Limit & Consequences of Non-Compliance under Income Tax Act

Published by admin on May 1, 2020May 1, 2020
Cash Transaction – Limit & Consequences of Non-Compliance under Income Tax Act

Cash transaction leaves no trail of the payer that causes tax evasion & black money. It affects the Indian economy by dual aspect one is revenue deficit to government and another one is unaccounted money that cannot flow in the economy.  Both of these problems terribly effects the development of a country. That’s why government …

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