Banks can accept tax dues in cash under IDS: RBI
The RBI on Thursday directed banks to accept tax dues in cash under the domestic black money declaration scheme which closes on September 30. “[B]anks must... accept cash, irrespective of amount... from all declarants... including deposits under the Scheme," it said. The government had informed RBI, “banks are hesitant” in allowing large cash deposits under the Income Declaration Scheme (IDS).