269 st violated?

This discussion explores potential violations of Section 269ST of the Income Tax Act concerning cash transactions. It highlights that receiving cash payments exceeding Rs 2 lakh in a single day, or for a single transaction, is prohibited. The advice suggests that splitting large payments into smaller amounts across different days to circumvent this limit may still be considered a violation, and could lead to penalties under Section 40(A)(3) for exceeding the Rs 10,000 cash expenditure limit.