Salary advances taken by the employees wants to repay it in cash whether it attracts 269SS
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Salary advance recovery
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Yes payment in cash should not exceed 10000 rupees in cash u/s 269ST
Yes it attracts, section 269ss and 269T not 269St
My personal understanding.
Maximum Possibility (in case TOTAL AMOUNT is Rs 20,000/- or More)
Section 269SS wording downloaded from Official Income Tax Website is also attached.
Simple Question that may be asked by Tax Department : Why employee wants to repay in cash? Means he/she is having some undisclosed sources of Income...
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