Know When to Say No to Cash Transactions (2nd Edition, 2024)
- Year of Publication: 2024
- Edition: 2nd
- ISBN: 978-81-977297-3-7
- No.of Pages: 281
In India, the quantum of domestic black money is huge which adversely affects the revenue of the Government creating a resource crunch for its various welfare programs. Black money is generally transacted in cash and large amount of unaccounted wealth is stored and used in form of cash. In order to achieve the mission of the Government to move towards a less cash economy to reduce generation and circulation of black money, the Government of India has introduced a number of restrictions on cash transactions. It is the thrust of Indian Government to reduce cash transactions. Slowly and gradually the Indian Economy is getting digitized and moving towards cashless economy. To curtail the black money menace, the Government has put several limits that individuals and businesses need to adhere to when they carry out cash transactions. Any contravention of these provisions could lead to steep penalties of up to 100% of the amounts in question. This book is an attempt to bring the focus on basics relating to restrictions on cash transactions. There are important speed breakers for cash payments. So it is very important to know when to say no to cash transactions. The source of law must be reliable, unbiased and capable of referring as and when required. This benchmark is fully met in this book.
‘Know When to Say NO to Cash Transactions’ is a detailed book written in a simple language, explaining the provisions of law step-by-step with the help of suitable illustrations, without resorting to paraphrasing of sections and legal jargon. Readers will find that each topic has been discussed with clarity. Further, for providing enhanced clarity on the subject, the subject-matter has been wonderfully divided into 13 chapters. Simple language, use of large number of practical examples, incorporation of relevant judicial pronouncements, pictorial representation, FAQs etc. are some of the salient features which shall be invariably noticed and appreciated by every sincere reader.
Apart from amendments made by the Finance Act, 2023 the important judicial pronouncements available to us up-to-date have been included in this book.
This work will be useful for one and all concerned with tax practice, tax administration and business, for the subject-matter covered herein is one which is of day-to-day relevance. The treatment is exhaustive enough, aimed at meeting totality of the requirements in regard to cash transactions of all sorts, together with their consequential implications.
Ravinder broke the custom of not indulging into his family business, rather he moved the steering wheel of his life towards Chartered Accountancy profession after graduating Bachelors of Commerce from DAV College, Jalandhar and simultaneously doing his Masters of Commerce from Himachal Pradesh University. He fulfilled his innate desire to understand the intricacies of legal world by doing Bachelors of Law from Guru Nanak Dev University, Amritsar.
Ravinder won various accolades of success to his name but all this was not built overnight, these laurels were achieved by sleepless nights and rigorous efforts and on his journey of acquiring and sharing of knowledge, he contributed to the profession by being Vice-Chairman of Jalandhar Branch of NIRC of ICAI from 1995-1998, Chairman of Jalandhar branch of NIRC of ICAI for the year 2008-2009, Member of Regional Tax Advisory Committee of CBDT, New Delhi, Member of Direct Tax Committee of ICAI for the Year 2011-2012, Special Invitee in Direct Tax Committee of ICAI for the Year 2012-2013, Member of Indirect Tax Committee of ICAI for the Year 2013-2014, Member of Board of Studies of ICAI for 2014-15, Senate Member of Guru Nanak Dev University, Amritsar from 01.07.2014 to 30.06.2016, Member of Committee on Economic, Commercial Laws & WTO and Economic Advisory of ICAI for the Year 2017-2018 and at present he is on the panel of authors of "Tax Guru", the well known website for dissemination of taxation and other related information.
Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.
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- Year of Publication: 2024
- Edition: 2nd
- ISBN: 978-81-977297-3-7
- No.of Pages: 281
In India, the quantum of domestic black money is huge which adversely affects the revenue of the Government creating a resource crunch for its various welfare programs. Black money is generally transacted in cash and large amount of unaccounted wealth is stored and used in form of cash. In order to achieve the mission of the Government to move towards a less cash economy to reduce generation and circulation of black money, the Government of India has introduced a number of restrictions on cash transactions. It is the thrust of Indian Government to reduce cash transactions. Slowly and gradually the Indian Economy is getting digitized and moving towards cashless economy. To curtail the black money menace, the Government has put several limits that individuals and businesses need to adhere to when they carry out cash transactions. Any contravention of these provisions could lead to steep penalties of up to 100% of the amounts in question. This book is an attempt to bring the focus on basics relating to restrictions on cash transactions. There are important speed breakers for cash payments. So it is very important to know when to say no to cash transactions. The source of law must be reliable, unbiased and capable of referring as and when required. This benchmark is fully met in this book.
‘Know When to Say NO to Cash Transactions’ is a detailed book written in a simple language, explaining the provisions of law step-by-step with the help of suitable illustrations, without resorting to paraphrasing of sections and legal jargon. Readers will find that each topic has been discussed with clarity. Further, for providing enhanced clarity on the subject, the subject-matter has been wonderfully divided into 13 chapters. Simple language, use of large number of practical examples, incorporation of relevant judicial pronouncements, pictorial representation, FAQs etc. are some of the salient features which shall be invariably noticed and appreciated by every sincere reader.
Apart from amendments made by the Finance Act, 2023 the important judicial pronouncements available to us up-to-date have been included in this book.
This work will be useful for one and all concerned with tax practice, tax administration and business, for the subject-matter covered herein is one which is of day-to-day relevance. The treatment is exhaustive enough, aimed at meeting totality of the requirements in regard to cash transactions of all sorts, together with their consequential implications.
Ravinder broke the custom of not indulging into his family business, rather he moved the steering wheel of his life towards Chartered Accountancy profession after graduating Bachelors of Commerce from DAV College, Jalandhar and simultaneously doing his Masters of Commerce from Himachal Pradesh University. He fulfilled his innate desire to understand the intricacies of legal world by doing Bachelors of Law from Guru Nanak Dev University, Amritsar.
Ravinder won various accolades of success to his name but all this was not built overnight, these laurels were achieved by sleepless nights and rigorous efforts and on his journey of acquiring and sharing of knowledge, he contributed to the profession by being Vice-Chairman of Jalandhar Branch of NIRC of ICAI from 1995-1998, Chairman of Jalandhar branch of NIRC of ICAI for the year 2008-2009, Member of Regional Tax Advisory Committee of CBDT, New Delhi, Member of Direct Tax Committee of ICAI for the Year 2011-2012, Special Invitee in Direct Tax Committee of ICAI for the Year 2012-2013, Member of Indirect Tax Committee of ICAI for the Year 2013-2014, Member of Board of Studies of ICAI for 2014-15, Senate Member of Guru Nanak Dev University, Amritsar from 01.07.2014 to 30.06.2016, Member of Committee on Economic, Commercial Laws & WTO and Economic Advisory of ICAI for the Year 2017-2018 and at present he is on the panel of authors of "Tax Guru", the well known website for dissemination of taxation and other related information.
Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.
