Provision of section 269st

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Huzefa Tinwala (Querist)
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30 June 2017 Hello,
I am a Civil Contractor. If I receive amount more than Rs. 200000.00 in the year 2017-18 against the various bills raised by me on various dated to a person. Shall I liable for penalty under Section 269ST of Income tax Act?

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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01 July 2017 https://www.taxmann.com/login.aspx?ReturnUrl=%2ftopstories%2f105010000000014353%2ffurnishing-of-statement-of-financial-transaction-under-rule-114e-and-section-269st-–-a-comparison.aspx

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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01 July 2017 Kindly provide your mail ID

Huzefa Tinwala

Huzefa Tinwala (Querist)
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03 July 2017 hzf.tinwala@gmail.com

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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03 July 2017 Check your mail ID

Huzefa Tinwala

Huzefa Tinwala (Querist)
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04 July 2017 If I raise monthly Bills against single work order of Rs 4, 5 6 lacs and every month I receives the amount of Rs. 150000-180000 against every bill on various dated. Shall I liable for penalty under Section 269ST of Income tax Act?

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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04 July 2017 The mail which I had send you is with example kindly follow that

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