Sec-269 st
Querist : Anonymous
as per the new amendment what is the actual meaning of "in respect of transactions relating to one event or occasion from a person". please discuss with example relates to transactions between whole saler and retailer
thanking you
Expert : Anonymous
This is not applicable to wholeseller or retailers. For them receipt of more Rs. 2 Lacs in a single day attracts penalty.
E.g. Marriage is one occasion and a person receives amount more than Rs.2,00,000/-. Thus penalty is levied of 100% of amount received.
https://www.taxmann.com/topstories/105010000000014299/section-269st-the-impact-analysis.aspx
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