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cash limit 200000 and 269 st
In income tax cash limit 200000 for one person .its value count for one day value 200000 per person or yearly 200000 per person cash payment or received a per 269 st or other any rules
Replies (3)
Yearly
Section 269ST of the Income Tax Act 1961 states that no person shall receive an amount of Rs 2 Lakh or more :
• In aggregate from a person in a day; or
• In respect of a single transaction; or
• In respect of transactions relating to one event or occasion from a person.
Hence the limit is of per day.
• In aggregate from a person in a day; or
• In respect of a single transaction; or
• In respect of transactions relating to one event or occasion from a person.
Hence the limit is of per day.
Vishesh sir,
jaise hum farmers se raw cotton purchase krte hai i.e. 450000/- toh hum usse cash payment krte hai toh ye sec. 269st ka violation hoga??
jaise hum farmers se raw cotton purchase krte hai i.e. 450000/- toh hum usse cash payment krte hai toh ye sec. 269st ka violation hoga??
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