Cash transaction

"please guide in cash transaction rules 3 lac rule any single payment or gross receipt. please guide me."

After recent amendment the cash transaction limit resduced to 2 Lakhs u/s. 269SS. In short, it is per PERSON per DAY/EVENT. and not for gross receipts per day or per year from different persons.

Hi,
Following is my query with respect to the amendment in Sec 269ST:

Let's say I make a sale worth of Rs 3 Lacs and I receive payments in cash on different dates amounting to Rs 1 lac each. Will i still be penalized?

" Let's say I make a sale worth of Rs 3 Lacs......."

To single person, yes section 269ST gets attracted.

To different persons during a day (none upto 2 lakhs, single transaction), no penalty.