269ST applicability

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Accountant
183 Points Posted on 05 January 2020
Dear sir/madam,
I received a total of Rs 500000 as Rs 100000 each for 5 different invoices from 5 different customers in SAME DAY. Is sec 269ST applicable?
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On 05 January 2020 at 01:46 Report
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This discussion clarifies the applicability of Section 269ST of the Income Tax Act concerning cash receipts. The consensus is that receiving multiple payments of Rs 100,000 each on the same day from different customers, totalling Rs 500,000, does not violate Section 269ST. However, it is advisable to obtain PAN and Aadhaar details for customers to substantiate such large cash transactions.

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12244 Points Posted on 05 January 2020
No... section 269ST doesn't applicable in your case
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On 05 January 2020 at 02:07
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"Do the Right Thing...!!!"
128162 Points Posted on 05 January 2020
Yes... I agreed to Mr Ramakrishnan.,

Sec 269ST not applicable in Your case.
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On 05 January 2020 at 04:32
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17269 Points Posted on 05 January 2020
Though 269ST doesn't apply but you are advised to obtain a PAN -& Aadhaar copy of customer bcoz onus will be on you to substantiate such big cashe receipts.
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On 05 January 2020 at 13:33

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