Avail 20% discount on updated CA lectures for Dec 21 .Use Code RESULT20 !! Call : 088803-20003

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Debiprasad Jana   06 September 2020

Violation of Section 269ST

A product worth rs is 2,50,000.

1. Can i pay 1,90,000 in cash and 60,000 in cheque?

2. Can seller receive 1,90,000 in cash and 60,000 in cheque?

If i do so, will i violet any penalty? or will the seller violet any penalty?


 3 Replies

Aman Verma

Aman Verma   06 September 2020

The seller will violate sec 269 ST and the buyer will violet sec 40A(3) IT dept will send notice if they find this case.
Debiprasad Jana

Debiprasad Jana   06 September 2020

But in 269 to be violated the first condition is if you pay 2 lakhs or more. here i pay 195000 cash
Aman Verma

Aman Verma   06 September 2020

Receiving near to the limit wont attract any penalty as the sellar can recive upto 200000 but i wont suggest that as this will attract eyes of AO for future.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Start a New Discussion

Popular Discussion


view more »







Subscribe to the latest topics :
Search Forum:

Trending Tags