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Applicability of Section 269SS of I. T Act 1961

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AUDIT MANAGER
97 Points Posted on 09 June 2021
whether provision of section 269SS is applicable on amount received from customer as sale consideration?
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On 09 June 2021 at 18:07 Report
Replies (5)
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article Assistant
1644 Points Posted on 09 June 2021
No. It is not applicable. It is only applicable for Loans,Deposits or any specified sum. However you have to comply with provision 269ST.
7 Reply
On 09 June 2021 at 18:33
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tax consultant
3306 Points Posted on 09 June 2021
If received in advance then yes
9 Reply
On 09 June 2021 at 19:24
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Chartered Accountant
24588 Points Posted on 09 June 2021
It is applicable on loans, deposits and other sums
129 Reply
On 09 June 2021 at 20:50
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article Assistant
1644 Points Posted on 09 June 2021
Advance receipt of sale consideration of immovable property is covered under this section.
7 Reply
On 09 June 2021 at 21:26
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Profession Business
28207 Points Posted on 09 June 2021
,Read the provisions of Sec 269 ST.
YOU can deposit the money's received from customer but subject to the provisions of Sec 269 ST.
ITS APPLICABLE .
THE SAME HAS ALSO BEEN EXTENDED FOR REPAYMENT OF LOAN.
PER DAY TRANSACTION HAS BEEN RESTRICTED.
44 Reply
On 09 June 2021 at 21:56


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