Section 269st

316 views 3 replies

ON OF OUR CLIENT IS IN MOBILE RECHARGE ,UTILITY PAYMENT(ELECTRICITY BILL AYMENT,INSURANCE PAYMENT) AND OTHER CONSUMER RELATED SERVICES WHICH ARE WHOLLY DEPEND ON CASH 

 

BUT DUE TO INSETION OF SECTION 269ST DEPOSIT OF CASH LIMIT HIS BUSINESS EFFECTED

HE RECEIVED MONEY FROM DIFFERENT RETAILERS AND DEPOSIT THE MONEY INTO HIS ACCOUNT TO PROVIDE SERVICES TO CUSTOMER

 

IS THEIR ANY SOLUTION FOR THE BUSINESS ENTITIES LIKE I MENTIONED ABOVE

UMESH SHARMA

9990377732

 

 

Replies (3)

That is the main cause of insertation of Section 269ST.

Go digital. Forget cash transaction. Initially it may hurt, but we are well-versed in getting adjusted in any circumstances.

Otherwise also 2 lakhs per day per person; means for roughly 10 such customers for 300 days amounts to 60 Cr. Such a big transaction in cash allowed!!! While there is audit limit of just 1 Cr. u/s. 44AB.

Sir, can the violation of the section be escaped if such retailers directly deposit cash in our account, since in this case the receiver will be a bank (although the beneficiary is the same) and banking instituitions are not covered under this section?

 

Thanks in advance

Bank is just an agent, to collect sum in your favor and credit to your account. Amount is actually received by you.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Topics
Loading
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
06 July 2026
Chartered Accountant (Indirect Taxation)

Gowra Ventures Pvt Ltd

Hyderabad

CA

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details