Berjé News

indian currency

October, 1st 2019

September 2019 had the Indian rupee depreciate against the USD drastically over 4%.   September also saw a new 2 % tax called TDS (Tax Deducted at Source) on large cash withdrawals.   It is not an additional tax of 2% but a tax that is paid at time of cash withdrawal and one can file to get a rebate when you file for your taxes.  The purpose is to dissuade the use of cash in the economy.