News Round-Up

India Business Journal - - CONTENTS -

A brief on news, tie-ups, ap­point­ments and awards

The Cen­tral Board of Di­rect

Taxes (CBDT) has ex­empted cer­tain cash transactions from the purview of the Rs 2-lakh re­stric­tion. The limit was in­tro­duced in this year's Bud­get as a part of ef­forts to pro­mote the dig­i­tal econ­omy. The transactions kept out of this re­stric­tion are: money re­ceived by a busi­ness cor­re­spon­dent on be­half of a bank or co­op­er­a­tive bank; re­ceipt by a white­la­bel ATM op­er­a­tor from re­tail out­let sources on be­half of a bank or co­op­er­a­tive bank; re­ceipt from an agent by an is­suer of pre­paid in­stru­ments; and re­ceipt by a com­pany is­su­ing credit cards against bills raised in re­spect of one or more credit cards.

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