85% tax on bank transactions exceeding ₹10 lakh? Govt debunks fake claim made through Instagram reel – ‘Stay cautious’
The government’s fact-checking agency, the Press Information Bureau PIB Fact Check unit, on January 1 refuted a claim circulating on social media that an “85% tax has been imposed on transactions exceeding 10 lakh.” The PIB Fact Check unit debunked the claim, stating that income tax is “levied only on income, not on transactions.” It…