Cash transaction
This query is : Resolved
GANGADHARA RAO
(Querist)
13 May 2018
sir, our client received cash Rs 325000-00 in two different events from a signle custemer, each event below two lakhs, as for recent amendament of income tax,he liable to pay tax or not for above transaction. please advice me
CA PARAS BAFNA
(Expert)
14 May 2018
If the events have occured on a single day and the customer is the same person then the transactions are covered under Section 269ST. If the date is different but the customer is the same, then no problem.
GANGADHARA RAO
(Querist)
14 May 2018
Thank you very much sir,
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