Penalty on receipt of an amount of Rs. 2 lakh or more in cash Section 269ST of Income Tax Act (as inserted by the Finance Act, 2017 with effect from 1/4/2017) provides that no person shall receive an amount of 2,00,000 Rupees or more, — 1.in aggregate amount from a person in a day; [As […]
Cash Transaction Limit:- Section 269ST:- In budget (2017-18), the govt. of India has been passed through finance Act, 2017 and notified on 31-March-2017. On Rupees 2 lakh cash transaction limit have been provided in a new section in Income Tax Act as Section 269ST. Effected With effect from 1stapril-2017 A.Y-2018-19 Any person shall receive an […]
