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269ST - is capital introduction a mode of undertaking transaction

Lokesh Jain (ghy)     01 October 2019

Lokesh Jain
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can I introduce Rs 210000/- in cash as a capital in partnership firm in a single day?

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Kapadia Pravin   01 October 2019

Kapadia Pravin

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Technically speaking N0
But it is advisable for partner to first deposit in his SB account and from there - transfer to Partnership Firm by cheque or digital mode.

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sabyasachi mukherjee   02 October 2019

sabyasachi mukherjee

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Deposit in bank is not within the purview of income tax act. Sec 269 St (introduced from AY 2018 19)

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