Finance Minister Arun Jaitley in his Budget Speech announced that there will be no Cash Transaction going further above Three Lakhs. The Finance Minister did not make any announcement about Taxing Cash Transactions higher than that.
[m9ad]
It is not announced how the 3 Lakh Rule will be implemented and that implies government may announce a set of guidelines later in that direction. The rules are not announced for now so that the focus is not diverted from the budget.
Jaitley announced a slew measures to incentivize digital transactions. The announcement of the Three Lakh Rule may come up after the Assembly elections to avoid panic and misconceptions in the people which may damage BJP prospects in those states.
Win Rs.1000 Paytm for closest guess of @NameisNani 's #NenuLocal USA Premiere Collections ends by Thur 7pm IST#M9NewsWin1000 3rd contest pic.twitter.com/PcsmdS09lQ
— M9News (@M9News) 31 January 2017
