banner_ad

Sec-269 st

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
12 April 2017 respected sir ,
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
Avatar

Expert : Anonymous

Profile Image
Expert : Anonymous (Expert)
12 April 2017 On plain reading of the provisions of the section, no person can receive cash of Rs. 2,00,000/- or more on one event or occasion from a person. In other words, the restriction is on per person per event / occasion.

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.
Profile Image

CA Gopal Somani

Profile Image

CA Gopal Somani (Expert)
12 April 2017 Please check the below link, it provides good explanation -

https://www.taxmann.com/topstories/105010000000014299/section-269st-the-impact-analysis.aspx

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details