Applicability of Section 269SS of I. T Act 1961

This discussion clarifies the applicability of Section 269SS of the Income Tax Act, 1961. It's confirmed that Section 269SS primarily applies to loans, deposits, and specific sums, not directly to sale consideration received from customers. However, compliance with Section 269ST is necessary for such transactions, especially for advance receipts like property sale consideration. Daily transaction limits under Section 269ST must also be observed.