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Regarding Applicability of Penalty u/s 269SS

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(Querist)
09 September 2025 If purchase of Rs. 4,00,000 is done from single party and if payment of less than Rs. 2,00,000 is made in current financial year and remaning amount is payable in current financial year and paid in cash in next financial year.
Then whether penalty u/s 269ST shall be applicable considering it as single transaction?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
09 September 2025 The section 269ST is applicable over cash receiver.
But for seller if any amount is due from debtor as b/f balance, he cannot accept more than 10K in cash.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
15 September 2025 Good Luck...
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