cash limit 200000 and 269 st

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55 Points Posted on 29 March 2019
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
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On 29 March 2019 at 23:11 Report
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CA Final student
7106 Points Posted on 29 March 2019
Yearly
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On 29 March 2019 at 23:49
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Student
23693 Points Posted on 30 March 2019
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.
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On 30 March 2019 at 00:52
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Self employed
2193 Points Posted on 30 March 2019
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??
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On 30 March 2019 at 16:02

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