22 October 2026
A Partner of firm introduced below 200000 in various days and totally introduced 1,45,00,000 during the year in his firm as partners capital . Is it attracts 269st to the firm.
22 October 2026
Section 269ST Applicability: If no single day's cash receipt from the partner equals or exceeds Rs. 2,00,000, Section 269ST is not directly attracted based on the daily aggregate limit.
Caution: Substantial cash introductions (totaling Rs. 1.45 Crores) pose severe risks under Section 68 for unexplained cash credits. It is strongly advised to route all capital contributions through banking channels (account payee cheques, RTGS, NEFT, or UPI) to maintain a clear audit trail and avoid penalties under Section 271DA or additions under Section 68.