sir I purchase old car in rs.602000
and 402000.00 loan and remaining 200000.00 rs paid in cash so it valid for income tax
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Cash component should be less than 2 lakhs,
Because as per section 269ST of I T act, seller or cash receiver attracts penalty for receiving cash for amount Rs. 2 lakhs or more
its 20 000 rs now us 269ss and 269st
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