Dear sir/madam....
Generally we purchase goods from unregistered dealer and make urd purchase bill below two Lakh and pay the cash to them..... kindly help me ....question is below...
we purchase cotton on 20/12/2020 from Ajay and paid cash to him Rs. 197800 and make urd purchase bill on same date....
On 24/12/2020 again we purchase cotton from him and paid cash Rs. 198000 and make urd purchase bill...
is it wrong and violating the sec 269st of income tax act?? will it create the problem from giver of cash and receiver cash???
please do the needful...
CAclubindia
