Pakistan, Aug. 15 -- The Federal Board of Revenue (FBR) has reversed its earlier decision and announced that retailers will no longer enjoy tax relief on cash deposits exceeding Rs 200,000 in bank accounts. The decision marks a significant policy shift aimed at tightening regulations on high-value cash transactions.

According to the revised policy, the restriction will also apply to individuals and businesses engaged in online sales. Any transaction exceeding the Rs 200,000 limit must now be carried out strictly through crossed cheques or online banking channels instead of cash.

The FBR has also introduced a penalty mechanism for non-compliance. If retailers deposit cash over the set threshold, the authority will deduct 50 percent of th...