Budget 2019: Govt may levy tax on cash withdrawals over Rs 10 lakh a year

[snoww]

8 minutes ago, reddyeee said:

Already common people lost trust on banks after that brainless demonitisation move .. ippudu ee tuglak rules tho people will start avoiding banks completely unless there is no alternative. Good for crypto 🤐

Agreed. They will just hoard money at home

[Edhokati]

Just now, reddyeee said:

ithe just convert to gold and hide at home or invest all u r money on lands antav.

Avi kooda add chestaru le

[xano917]

14 minutes ago, reddyeee said:

Already common people lost trust on banks after that brainless demonitisation move .. ippudu ee tuglak rules tho people will start avoiding banks completely unless there is no alternative. Good for crypto 🤐

this is what i don't understand... modi demonitization and GST pettina taruvatha kuda fublic yela vote vesindhi ?  yekkada theda koduthundhi 

[Hydrockers]

22 minutes ago, Edhokati said:

I feel same. 

Only rich ki matrame life easy

Who is rich uncle 

[AndhraneedSCS]

basically people will quit using banks when possible 

[Kool_SRG]

1 minute ago, xano917 said:

this is what i don't understand... modi demonitization and GST pettina taruvatha kuda fublic yela vote vesindhi ?  yekkada theda koduthundhi 

Desa bhakthi baa perigipoyindi 

[snoww]

2 minutes ago, xano917 said:

this is what i don't understand... modi demonitization and GST pettina taruvatha kuda fublic yela vote vesindhi ?  yekkada theda koduthundhi 

Thanks to sendraal Saar. Rahul Ni ninda munchesadu strong pm candidate from opposition lekunda 

[xano917]

5 minutes ago, Kool_SRG said:

Desa bhakthi baa perigipoyindi 

anthe ledu dude.... kastalu unte desham kanapadadu. naaku EVMs mida anumanam 

[reddyeee]

2 minutes ago, xano917 said:

this is what i don't understand... modi demonitization and GST pettina taruvatha kuda fublic yela vote vesindhi ?  yekkada theda koduthundhi 

EVM tampering ani baboru told naa .. what is there to not understand .. didn’t you see the ppt’s ? 😛

on serious note, I feel that there are some good things that came out of demonitisation like digitalization.. people were forced to use other modes of payments like Paytm, paypal, mobikwik, freecharge, cards etc. demonitisation leka pothe intha fast gaa adopt iyyevallu kaademo especially non IT people. 

Modi won because Indians don’t have a better alternative. 

[xano917]

4 minutes ago, snoww said:

Thanks to sendraal Saar. Rahul Ni ninda munchesadu strong pm candidate from opposition lekunda 

baboru akkada yem chesadu ?

[xano917]

Just now, reddyeee said:

EVM tampering ani baboru told naa .. what is there to not understand .. didn’t you see the ppt’s ? 😛

on serious note, I feel that there are some good things that came out of demonitisation like digitalization.. people were forced to use other modes of payments like Paytm, paypal, mobikwik, freecharge, cards etc. demonitisation leka pothe intha fast gaa adopt iyyevallu kaademo especially non IT people. 

Modi won because Indians don’t have a better alternative. 

i stayed in india long after demonetization  dude.... but small towns lo paytm aathcare. cities lo undhi anthey, only thing i have seen is cities lo chinna bandi shops lo tea shops also accept. anthey pedda theda ledu. 

towns lo paytm ante vedi neelu moham paina posthadu .

Moreover business run chese vadiki GST rod artham avthundi. small and mid size business people ki pedda bokka, paying taxes as per rules is fine man. But is govt spending that tax money properly on public , answer is no then why should people pay tax ?

[Anta Assamey]

Thank You Modi ... 

[BDurruti]

9 minutes ago, xano917 said:

i stayed in india long after demonetization  dude.... but small towns lo paytm aathcare. cities lo undhi anthey, only thing i have seen is cities lo chinna bandi shops lo tea shops also accept. anthey pedda theda ledu. 

towns lo paytm ante vedi neelu moham paina posthadu .

Moreover business run chese vadiki GST rod artham avthundi. small and mid size business people ki pedda bokka, paying taxes as per rules is fine man. But is govt spending that tax money properly on public , answer is no then why should people pay tax ?

business run chesey cities in TamilNadu lo full debba BJP ki. tiruppur coimbatore lo small industries baadithulu chaala mandhi unnaru. BJP gelichi undachu aa place, they lost because of demonetization and GST.

migatha vaallu, various reasons. north lo they love Modi, because of his 'simple' background. They think he's incorruptible. some vote because of caste.

rahul gandhi was not a formidable opposition. he couldn't differentiate BJP and Cong. vaadu cheppedhi antha high level ideas. he announced some 72k per yr scheme. daani gurinchi emi maatladala campaign lo. malla. that would've been a huge game changer. he could have expanded on that. Everyone I spoke to, either didn't know about this scheme, or didn't trust congress to implement it.

 

evm tampering sure. adhi anni govts chesthundi.sometimes they affect the results, sometimes wont. but intha majority aithey radu.

desha bhakti ekkuva ayyi, Hindutva feeling ekkuva ayyi padina vote lu takkuva. Its its a vote for Modi. janalu aa daridrudini guddi ga nammuthunnaru.

nenu pichhi kukka lekka tirigina oka 70days India lo for a personal work. north India mothham. naaku janala tho maataladatam chaala easy. nenu telusu kunindi idhi. and I spoke to all class people.

[Anta Assamey]

1 hour ago, Kool_SRG said:

Govt may introduce tax on cash withdrawal of Rs 10 lakh in a year

Tax on cash withdrawal: While the final decision is yet to be made, the government is clear that it does not want to burden the middle and poor class with excessive compliance.

The government is considering the possibility of introducing a tax on cash withdrawals of Rs 10 lakh in a year. The government is mulling this move to discourage use of paper currency, promote digital payments as well as crack down on black money. Another proposal under consideration is mandating Aadhaar authentication for all high-value cash withdrawals as the government believes that the move will make it easy to track individuals and keep tax returns in check.

The government believes that annual cash withdrawals of more than Rs 10 lakh are not needed for most individuals and businesses, as mentioned in a report in Times of India. While the final decision is yet to be made, the government is clear that it does not want to burden the middle and poor class with excessive compliance.

In its Monetary Policy Committee (MPC) meet last week, the Reserve Bank of India (RBI) announced that it will do away with the charges on NEFT and RTGS transfers. The finance ministry believes that this will help in promoting non-cash transactions.

 

Moreover, this move is in line with other rules mandated by the government to keep cash transactions in check. A few years ago, the government made digital or cheque payments mandatory for businesses to claim benefits of business expenses. Following this rule, large companies are now making wage payments of more than Rs 10,000 through cheque or via bank transfer.

It remains to be seen if the tax on cash withdrawal will be implemented. Something similar was introduced by the UPA a decade ago. It had introduced a bank cash transaction tax that was met with a lot of resistance, and was withdrawn a few years later. The current amount of Rs 10 lakh in a year is much higher threshold.  

In 2016 a high-level panel of chief ministers, headed by then Andhra Pradesh CM N Chandrababu Naidu had recommended reintroduction of the tax on withdrawals of over Rs 50,000, among other measures to check cash use after demonetisation. However, the cash withdrawal tax was not implemented.

Annitiki okate Goal ... Adhi matram kanipinchadu end result lo ...  

[BDurruti]

7 minutes ago, xano917 said:

i stayed in india long after demonetization  dude.... but small towns lo paytm aathcare. cities lo undhi anthey, only thing i have seen is cities lo chinna bandi shops lo tea shops also accept. anthey pedda theda ledu. 

towns lo paytm ante vedi neelu moham paina posthadu .

Moreover business run chese vadiki GST rod artham avthundi. small and mid size business people ki pedda bokka, paying taxes as per rules is fine man. But is govt spending that tax money properly on public , answer is no then why should people pay tax ?

ee paytm sollu chepey vaallu reality lo brathakaru. lyt.

why would anyone use a service where they have to pay a fee on top of bank fees? its bullshit. govt pushing for digital is total bullshit.

deenni samardinchey vaallu are brain dead.