BAN ON CASH TRANSACTIONS ABOVE 3 LAC --- SIT says to Supreme Court

To prevent black money and to get the transparency in transactions ,the Supreme court constitute Special Investigation Team (SIT).
--SIT recommends a ban on cash transactions above 3 Lac.If it is done then it will be considered as against law.If any one withdraw money more than 3 Lacs then the information will go to the concerned departments on violations of rules.
--SIT also suggested capping the cash holdings of companies and individuals to 15 Lac.If any one needs more than 15 Lac he should get the permission from the respective Income Tax Commissioner.
--If any one wants to buy or invest in foreign assets he should inform commissioner of Income Tax in prior.
--By imposing strict rules on transactions Govt can get the control on black money overflow.
--SIT also planning to get the rule that if any persons cash holding more that the Govt instructions then it will belongs to Central Govt.
--Because of these rules there will be a check on each and every transaction so that generation of black money will be difficult . By these it will be difficult to evade the Tax.
--This will effect majorly the Real estate sector where the cash transactions are very common to get away with the lower stamp duty.