Government reduced its transaction limit in cash to Rs 2 lakh, from Rs 3 lakh

The government proposed today to reduce the cash transaction limit to Rs.2,000, from Rupee 3 published in the budget, since it introduced 40 amendments to the Financial Bill in one move. Never had it done (Credit: Shutterstock) When the financial bill was introduced in Lok Sabha, opposition parties, including TMC, BJD and RSP, opposed the introduction of multiple amendments. This change, said it was done. However, the omission of the objections raised by the opposition parties, indicating that the ‘random clauses’ related to the amendments constituted a ‘monetary law’. and therefore can be considered as part of the financial bill. The proposed amendments to the Financial Disposition include a provision for legal cash transactions in Rs 2 lakh. During the February 1 budgeting, Finance Minister Arun Jaitley proposed that cash transactions in excess of 3,000 rupees come into force as of April this year. The same fine will be charged in case of violation of the terms, said Finance Minister Hasmukh Adhia, after the amendment has been amended. A senior income department official said the measure was aimed at making the law stricter to reduce cash transactions and raise money. The Special Rapporteur on black money, regulated by the Government under the direction of the Supreme Court. Amendments to the law, such as company law, employee law, contraband laws and exchange laws, the TRAI Act and the Information Technology Law, have also changed to make the courts work in a more effective While defending the play to modify it, Jaitley called the first Lok Sabha speaker, GV Mavalankar. He said that if a significant part of a bill mentions the imposition or abolition of taxes, it can be presented as a money bill, even if it has random terms. Other. There can not be a bill that says the government will spend 100,000 rupees without details. You can not have a bill that says you will have a 5 percent without determining what will be deducted, what would be the power of the official score, provide the appeal. No tax can be applied without reference to the court or tribunal. These are random terms, said Jaitley. The minister said that the opposition of the opposition was the language of Article 110 (1) and, since its inception, the House has defended the word ‘alone’ used in that When Jaitley transferred the Finance Law for discussion, NK Premanchandran ( RSP) said the government is pushing amendments in the House and not following the rules. It’s being launched. If you drive a house like this, it is not necessary to have monsoon and winter seasons. (Parliament) The Standing Committee can be cut. The supreme authority of Congress is being eliminated, said Premachandran. The government is amending the People’s Law, the RBI Act and the Sebi Law, he observes, adding: “How can the issue related to the elections be carried out according to the Financial Provisions?” These amendments are not under the authority of the Financial Provisions. ” Jaitley says that electoral bonds have been proposed to clean up the political money. The electoral fund, on the spectrum, came from unknown sources. Jaitley said that the People’s Representative now regulated disclosure of donor names above Rs 20,000 and that the amendment would require that if the money came from electoral bonds, the identity would not be disclosed. Highway. The Secretary of the Treasury also said that the proposed amendments to the Post Office, the Petroleum Industry Development Law and the Research and Development Law could be part of the bill. Finances as they are given in Article 110. The Hooda is deep Congress said the government should present a separate bill on transparency in the financing of elections since the RBI amendment is “consistent” and not coincidental. Its objective is to provide transparency in the financing of elections and that is why it has modified the RBI Law. TO to six months.

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