BCTT helps Income Tax make dent into cash transaction

ONE of the fall-outs of the rapid-paced globalisation phenomenon is the steady integration of the Indian financial markets. But it has so far not made a serious dent into the tendency to generate black money. Let's recall the last week seizure of Rs 4.9 Crore cash by the Pune Income Tax (Investigation) in Thane. But what seems to be doing wonders for the Income Tax is the new levy of Banking Cash Transaction Tax (BCTT). Since the banks are statutorily required to furnish data related to heavy t

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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