Section 269st

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.