269T TAR

This discussion addresses whether receiving over ₹2 Lakhs in cash from a partner is permissible under Indian tax law. It highlights potential violations of Section 269ST of the Income Tax Act, which prohibits cash receipts of ₹2 Lakhs or more in a single day or transaction. Consequently, a penalty under Section 271DA may be applicable, though a final conclusion requires a detailed examination of the transaction specifics.