Query about 269ss, 269tt, 40a for transactions

1. My Client have Unsecured Loan of Rs. 112000/- with interest. He paid Rs. 100000/- by cheque but remaining Rs. 12000/- by cash is any penalty Section attract.
 
2. Receiving Advance Cash Rs.19500/- per day against Sales transaction in future which invoice value is Rs. 2,00,000/-. is any penalty Section attract.
 
3. Payment of Bill Rs. 2,00,000/- after sales transaction paid Rs. 19500/- per day and Receipts taken. is allowed or not? Expert Comments Please.

 
Replies (1)

Sec 269SS and Tt are applicable only in TAX audit cases.

Further, if you go through the sections, It clearly states that transaction limit for cash is 20000/- in the year. So point no. 1.: No Penalty.

2. No penalty

3. No Penalty

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
18 August 2026
CA Semi Qualifies

Goyanka and Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
21 August 2026
Finance Manager

Resollect Technologies Pvt Ltd

Mumbai

CA

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 17 August 2026
Article Assistant

Jain Ankit and Co

Gurgaon

CA Inter

View Details