Cash deposited

Its not cash transaction actually but as per Sec 269ST of IT Act you can't receipt any payment above Rs.200000/- in a day from a person in aggrrgate, in respect of single transaction or in relation to one event or transaction otherwise than by a/c payee cheque, a/c payee demand draft or using electronic clearing through bank a/c.
In case of failure penalty equal to such sum imposed on receiver.

i think its 20,000 . not 200000 in a day

pls correct rashmi, if u overlooked it

Its 200000/-

I THINK SHE IS RIGHT @ 200000/-

 

the rational behind the word electronic clearning through bank a/c also include deposit to current a/c. therefor the above transaction does not violated the pro. of 269ST.