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Govt mulls limits on cash withdrawals, transactions for both individuals, companies
.Recently some senior tax officials and experts were asked their opinion about such a step. The senior government officials seeking feedback or opinion on the issue is one of the main reasons why industry trackers say that such a step could be in the offing, said two people who spoke to ET.
"What was asked was whether SIT proposal on reducing cash transactions was feasible. They wanted to know what could be the pushback or problems of implementing such a step," a person who refused to be identified said. The Supreme Court-constituted Special Investigation Team (SIT) in July this year that had recommended a cap of Rs 3 lakh on cash transactions and Rs 15 lakh on cash holdings.
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