Cash transaction under sec 269st

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1 Points Posted on 01 September 2020
i am construction material supplier,a customer come in 5 times in month purchase rs 50000 per time (total 50000*5=250000)in cash.is sec 269st violating? thanks in advance.
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On 01 September 2020 at 13:38 Report
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This discussion clarifies the application of Section 269ST of the Income Tax Act regarding cash transactions. For a construction material supplier, receiving multiple cash payments of Rs 50,000 on different occasions, totalling Rs 2,50,000 in a month, does not violate Section 269ST. However, receiving the entire Rs 2,50,000 in cash on a single day would constitute a violation.

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20 Points Posted on 01 September 2020
No you are not violating.
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On 01 September 2020 at 16:29
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Tax and Business Consultant
11616 Points Posted on 04 October 2020
Not violating, if you received cash Rs. 50,000 every time...
If you received total cash Rs. 2,50,000 on single day, than its violation of Sec. 269ST
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On 04 October 2020 at 17:51

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