Section 269ST applicability for capital introduced by partner to his partnership firm
This query is : Resolved
P.Madhivadhanan
(Querist)
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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Intimation under section 245
- ETDS return q4 25-26
- Tax on Amount transferred in HUF Account
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- Working on Gold wastage during Melting of old gold jewellery
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
