Section 269st cash recipt

This query is : Resolved 
Quick Summary
Section 269ST of the Income Tax Act imposes penalties for receiving cash amounts of Rs. 2 lakh or more. This means that any transaction involving cash equal to or exceeding this limit is prohibited. However, receiving amounts strictly less than Rs. 2 lakh, such as Rs. 1,99,999, is permissible under this section.

Profile Image

Profile Image

(Querist)
08 February 2022 Any individual who violates the provisions provided under section 269ST of income tax act by receiving in cash amount of Rs. 2 lakh or exceeding rs .2 lakhs shall be liable to pay a particular sum of amount as penalty for the violation.

Means ; can we receive Rs.2,00,000/- or 1,99,999/-
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
08 February 2022 Any thing less than Rs. 2 lakhs...
Profile Image

muthusundar

Profile Image

muthusundar (Querist)
08 February 2022 thank you sir for your immediate reply
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
08 February 2022 Most Welcome ...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member Joyashish MaitraJoyashish MaitraPro Member Pranab BanerjeePranab BanerjeePro Member CA Ajay TiwariCA Ajay TiwariPro Member S Chandra Sekhar ReddyS Chandra Sekhar ReddyPro Member Tia BlairTia Blair
Subscribe to Pro
Join an elite circle of professionals



Answer Query



Quick Links



Browse by Category