Cash limit
Hitesh rawal (402 Points)
16 September 2019Hitesh rawal (402 Points)
16 September 2019
Kapadia Pravin
(17249 Points)
Replied 16 September 2019
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 16 September 2019
1. Sec 269ST which deals with cash transactions exceeding Rs. 2 lakhs per day in a single transaction with the same individual. Any cash transaction above Rs. 2 lakhs will be punishable with the same amount of penalty.
2. In case of receipt through cash, it should not exceed Rs. 2 lakhs in a day from the same person for a single transaction.
3. So the maximum amount which is allowed under sec 269ST will be Rs. 2 lakhs and it cannot be more than that.
Please correct me if the above solution has an alternative view.
Vishal Gupta
(4 Points)
Replied 16 September 2019
Hitesh rawal
(402 Points)
Replied 16 September 2019
LAXMIDHAR SAHOO
(ARTICLES)
(190 Points)
Replied 16 September 2019
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