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You May Soon Need to Pay Tax for Cash Transactions at Banks
May 30, 2019
According to sources, the re-elected NDA government is looking to introduce new measures to tackle the problem of black money in India. They said that one of the moves that are being considered by the Centre is the introduction of the banking cash transaction tax (BCCT) in the hope that it will discourage cash transactions.
Sources said that the government is also looking to impose an estate tax on inherited property which is already followed by other countries in the world.
Photo credit: Dr PS Sahana * Kadamtala Howrah on Visualhunt.com / CC BY
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