one I.t. assess cash loan to debtor balance as on 31.03.2019 Rs.5(five lacs) as per books.
1. Cash receipt from debtor Date: 20.05.2019 Rs.1,90,000/-
2. Cash receipt from debtor Date:19.07.2019 Rs.1,90,000/-
3. Remaining balance cash receipt from debtor Date: 10.11.2019 Rs.1,20,000/- received.
total amount received through on cash mode.
Question:
above transactions violation ofsec 269 St and penality payable.
Menu
Violation of sec 269 st
Replies (1)
This will be hit by Section 269ST as this is considered as continuing transaction and hence One exceeding 2 lakhs Upper limit.
Recent Topic
- TDS related matter - 194 IA
- Research: How do CA firms handle GSTR-2B reconcili
- CA FINAL FR IndAS 33 Illustrtion 14
- Taxation on Sale of old Jewellery Received at Marr
- ITR-3 Filling issues
- PF withdrawal and tax liability
- Sale of Goods or Services?
- ITR form query
- Credit against paud RCM on rent
- Dividend difference in 26AS, AIS, TIS
Related Topics
CAclubindia
