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<h1>Restriction on cash receipts: high value payments must be made by bank instruments or electronic transfer, with limited exemptions.</h1> A new provision prohibits receiving cash amounts of two lakh rupees or more-aggregated in a day, in a single transaction, or for transactions relating to one event-unless the amount is received by account payee cheque, account payee bank draft or electronic clearing system through a bank account; exemptions cover receipts by the Government, specified banking entities, transactions subject to the prior related prohibition, and any additional classes notified by the Central Government, with certain definitions cross referred to the earlier provision.
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