W.e.f. 01/04/2017, penalty is applicable on Cash withdra from Bank for Rs. 2 Lakhs and above. In this regards, if i withdraw cash from my own two banks more than 2 lakhs, say 1.50 L from each bank then is it violation of section 269ST or not.
Deepak Tapse (Accounts Manager - Taxation) (1771 Points)
03 April 2017W.e.f. 01/04/2017, penalty is applicable on Cash withdra from Bank for Rs. 2 Lakhs and above. In this regards, if i withdraw cash from my own two banks more than 2 lakhs, say 1.50 L from each bank then is it violation of section 269ST or not.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160327 Points)
Replied 08 April 2017
" if i withdraw cash from my own two banks more than 2 lakhs, say 1.50 L from each bank then is it violation of section 269ST or not."
No
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