Rent deposit( refundable and non refundable ) attract 269SS and 269ST

Rent deposit( refundable and non refundable ) attract 269SS and 269ST
Replies (1)
As per under section 269SS:
IF DEPOSIT RECEIVED by any person,

OTHERWISE THAN by an account payee CHEQUE, account payee BANK DRAFT, using electronic clearing system(ECS) through bank account,
is 20000rs or more then it will Attract section 269SS .

EXCEPTIONS to section 269SS :

1. if deposit received by the following entities-

a. The Government.

b. Any Banking Company, Post Office savings bank or co-operative bank.

c. Any Corporation established by a Central, State or Provincial Act.

d. Any Government Company.

e. Any Institution, Association or Body or class of Institutions, Associations or Bodies notified in Official gazette.

2. person earning only Agricultural income.

3. receiving Cash Only From Relative during emergencies (should not be to evade the taxes).

4. partners contributing Cash Capital into partnership firm.

UNDER SECTION 269T:
the above provisions shall also apply in case of DEPOSIT REPAYMENTS.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
08 October 2026
Account Executive

Elite Taxation

New Delhi

CA Foundation

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details