Income-tax Act, 1961

Section - 269ST - Mode of undertaking transactions

Mode of undertaking transactions.

269ST. No person shall receive an amount of two lakh rupees or more-

(a)	-	in aggregate from a person in a day; or
(b)	-	in respect of a single transaction; or
(c)	-	in respect of transactions relating to one event or occasion from a person,

otherwise than by an account payee cheque or an account payee bank draft or use of electronic clearing system through a bank account or through such other electronic mode as may be prescribed:

Provided that the provisions of this section shall not apply to-

(i)

any receipt by-

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