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
Danish Abbas (153 Points)
19 September 2021
CMA Poornima Madhava
(CMA)
(13097 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.
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