Rs 10L cash withdrawal a year may incur tax

The government is looking at the possibility of introducing a tax on those withdrawing Rs 10 lakh in cash a year as it seeks to discourage the use of paper currency and promote use of digital payments for all manner of transactions. Sources said another proposal under consideration is mandating Aadhaar authentication for all high-value cash withdrawals.

from Times of India http://bit.ly/2XDtM0e