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I-T department warns against cash dealings above Rs 2 lakh

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I-T department warns against cash dealings above Rs 2 lakh
The Income-Tax Department on Monday warned people against cash dealings of Rs 2 lakh and more, saying any violation of this cap will invite strict penalty under law. 
In a public message, the department said “accepting Rs 2 lakh or more in aggregate from a single person in a day for one or more transactions relating to one event or occasion is prohibited”. 
The Economic Times, New Delhi, 29th August 2017.

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