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Doubt regarding section 269ss

Danish Abbas (48 Points)

19 September 2021  
If I received 3lac as advance from customer in a year but received less than 2lac in a day.
So section 269ss is applicable or not?

Please reply expert.
Thanks in advance

 4 Replies

Sourav (Student) (23826 Points)
Replied 20 September 2021

Not applicable

5R1R4M_ D4_V3NC3 (8 Points)
Replied 20 September 2021

In what mode?

CMA Poornima Madhava (CMA) (12987 Points)
Replied 20 September 2021

If 3 lac is related to one event, even if received (in cash) in installments, provisions of section 269st would be violated.

But if you receive less than ₹2 lacs in cash, and the rest not in cash, then no violation.

Sourav (Student) (23826 Points)
Replied 02 November 2021

Yes..

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