Understanding section 269st

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As per section 269st the daily cash limit is 2 lacs from a person in single or multiple transactions in a year,also you can't take more than 2 lacs in cash from more persons in a day. Does it mean anybody can take cash from different persons ex. 5 persons , total cash receipt not to exceed 10 lacs,with above criteria. 

 

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If it is cash receipts in connection with your business supply, then yes, But if anything like loan... then No.


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