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Finance ministry mulling 3-5% tax in Budget on cash withdrawal of 10 lakh a year

New Delhi:  Withdrawing a cumulative Rs 10 lakh a year can attract 3-5 per cent tax if a proposal going around in the Finance Ministry takes shape in the Budget to track high value cash deals and make digital payments mandatory. In its push towards a digital economy, the central government is thinking of introducing […]

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Estate tax, cash transaction tax mooted to fight black money

New Delhi:  Emboldened by bigger mandate, Prime Minister Narendra Modi is all set to intensify the fight against black money. Among measures to clamp down on graft and ill-gotten wealth, the government may consider re-introducing an estate tax on inherited property and banking cash transaction tax (BCTT). The suggestions are being discussed by tax authorities […]