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Arun Jaitley: India to Offer Tax Benefit to Promote Cashless Economy

India will offer tax incentives to small businesses engaged in cashless transactions, Finance Minister Arun Jaitley told reporters on Tuesday, as part of the government's fight against the cash economy. Jaitley said the move would enable businesses with annual turnover of 20 million rupees ($294,000) to save up to 30 percent in tax payments. "If you use digital modes of transactions for payment, then you have to pay lesser tax this year. It is a tax incentive to support the...

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