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Payment of cash exceeding ₹ 20000 on purchase of immovable property. whether any restrictions are there on such transactions..?
Replies (6)
CASH PAYMENT NOT ALLOWED MORE THAN 10,000 PER PERSON PER DAY
Is it applicable on both business and individual transactions..? Whether is it applicable on immovable property transactions..?
yes it is applicable for capital expenditure as well
YES IT IS APPLICABLE
sir, applicability of section 269SS AND 269T is not the case of immovable property transactions .....269ST is applicable which stats that ...there should not be a cash transaction which exceeds 200000INR...
unless otherwise the property is purchased as stock in trade or for business purposes there's no question of applicability of 40A (3) and 43. yes however section 269st will applicable in the hands of seller if he received cash in excess of 200000
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