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Regarding 269st section

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ABHI KUMAR

744 Points Posted on 12 August 2023

bill create party name mr a
bill no 1
date 1.8.23 amount 80000

bill no 2
date 2.8.23 amount 90000

bill no 3
date 5.8.23 amount 90000

total amount of 3 bill 260000

bill amount received as per below. dated 10.8.23

cash received 50000
remaining balance by neft
210000.
section 269st fall hoga kya

thanks in advance

Replies (3)

Quick Summary

This discussion clarifies the applicability of Section 269ST of the Income Tax Act regarding cash payments. A user inquired if Section 269ST would apply to a total bill amount of ₹2,60,000 paid partly in cash and partly via NEFT. The consensus reached is that Section 269ST, which prohibits cash receipts exceeding ₹2 Lakhs in a single day or for a single transaction, would not be contravened in this scenario due to the payment method and breakdown.