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.

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/-

08 February 2022 Any thing less than Rs. 2 lakhs...

08 February 2022 thank you sir for your immediate reply

08 February 2022 Most Welcome ...


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