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<h1>Limit on cash receipts requires payments to be by cheque, bank transfer or prescribed electronic mode to curb tax evasion.</h1> Prohibits receipt of cash at or above the statutory threshold in aggregate per day, per single transaction, or per event/occasion unless paid by an account payee cheque, account payee bank draft, electronic clearing through a bank account, or other prescribed electronic mode; exemptions include Government receipts, specified banking and post office/co-operative banks, transactions covered by the separate provision restricting cash acceptance, and other classes notified by the Central Government.
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