Sec- 269 ST Doubt

This query is : Resolved

CA Yogesh Chawla (Querist)
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11 April 2017 Can a retail shopkeeper receive Rs. 2 lakh or more in aggregate in Cash during FY from single person on different dates such that amt received on each date is less than Rs. 2 lakhs. Assume that payments are in respect of multiple bills such that each bill amt is less than Rs. 2 lakhs.

CA Gopal Somani

CA Gopal Somani (Expert)
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12 April 2017 Total amount should not exceed 2 lakh per DAY from a single person it doesn't whether you are receiving it in respect of one bill or multiple bills (each less than 200000)

Please check the below link, it provides good explanation - https://www.taxmann.com/topstories/105010000000014299/section-269st-the-impact-analysis.aspx

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