Eustan Ventures Private Limited

1. Upper limit set for cash transactions On 1st of February this year Union Budget was announced. The Budget this year tried forming a firm and strong groundwork to wipe out all black money and the illegal acts it fed. Black money had been a problem since long in India. Making an effort to remove this, demonetization was implemented which despite several flaws made Indian system realise the need to curb Black money. It was realised that the main reason for accumulation of black money are bulky cash transactions. This cash when not put into financial system and stored in confinement serve to evade the taxes payable and this adds on to the black money ecosystem. Government as a step forward in preventing re-assembly of black money has now banned cash transactions above 3 lakhs. This approach seems very exciting as of now. It can be expected that it may help a lot in choking black money families and benefit the Indian economy a lot. The cash transactions above 3 lakhs are now illegal and anyone disobeying the rule will be punished as prescribed by the Government of India. Soon an act will be declared giving an account of what the delinquent will face having broken such laws. For more visit Eustan Ventures Pvt. Ltd.