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Regarding applicabilty of section 269ST

Others 319 views 4 replies

AB is a partnership Firm . C and D are the partners of AB partnership firm. C and D withdraw and introduced Rs.200000 in single day . This type of transactions are occured during normal course of business. 

Whether Section 269ST applicable for partners or not ?

 

Replies (4)
If Partnership deed allows withdrawal of capital then Section 269ST is not applicable
It is governed by partnership deed.
Better to go by Account Payee Cheque or online payment
Income tax Act has made specific provisions .


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