Loan, card payment over â¹2L in cash must be in I-T returns
All cash payments of over â¹2 lakh to settle loans and credit card bills during the 50-day period after demonetisation will have to be disclosed in the new Income Tax return form, an official has said. The government will match the deposits made post demonetisation with the annual income to ensure that unaccounted cash hasn't been used to make payments.