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Govt mulls ban on cash deals of over ~3 lakh: CBDT chief

CBDT Chairperson Rani Singh Nair also favours the proposal to advance the presentation of Union Budget to January

The government is examining a recommendation by the special investigation team (SIT) to ban cash transactions of over ~3 lakh to clamp down on black money, the top Central Board of Direct Taxes (CBDT) official said on Tuesday.   Addressing an Assocham event, CBDT Chairperson Rani Singh Nair also favoured the proposal to advance the presentation of Union Budget to January, saying it will bring in “more efficiency” as the public expenditure will start from first day of the financial year. A key international tax official also said India-Singapore tax treaty would be broadly on ...