Cash receipts accepted more than rs 2,00,000.section 269st
This query is : Resolved
03 August 2019
Sir, One of our customer deposited cash in to our companies current account Rs 3,50,000, so as peer section 269 st does we (receiver) have to pay penalty of 100 % of that amount received
04 August 2019
Yes you (receiver) have to pay penalty of 100 % of that amount received
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05 August 2019
Sir, We are received cash from our customers on 28/9/2018 Rs 1,50,000, And 30/9/2018 Same customer deposited In our company Rs 80,000 So Total Received Amount Is 2,30,000 is it also Covered us 269st and We have to pay penalty 100% of amount received
Thank You Sir in Advance
Thank You Sir in Advance
05 August 2019
Yes if related to a single purchase or invoice.
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05 August 2019
Thank You Sir, If we collect trade deposits 1,50,000 each From 10 Different Sundry debtors Then Total cash receipts amount 15,00,000 then Is section 269st apply? Because of the total receipts Relate to single Event(Trade deposits).
And Thank you so much sir. Your expertise advises are helped us a lot Really Thank you so much sir Once Again
And Thank you so much sir. Your expertise advises are helped us a lot Really Thank you so much sir Once Again
05 August 2019
Welcome.
Such receipts will not fall under 269st.
Such receipts will not fall under 269st.
05 August 2019
Thank You sir, And sir what if we collect trade deposits from Each above 2,00,000, dose those transactions fall under 269st?
05 August 2019
Yes it will fall under 269st.
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