Cash transaction limit rs. 300000

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0123456789@ (Querist)
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11 February 2017 Cash Transaction Limit Rs. 300000 declared in budget 2017-18 which is means that the Assesses Cash Payment in whole year in his books of accounts Rs. 300000 or a Single Party payment Rs. 300000 in whole year ?

Sathish M

Sathish M (Expert)
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11 February 2017 The provisions of section 269ST in the Finance Bill 2017 provides that no person shall receive an amount of Rs 3 lakh or more,—
(a) in aggregate from a person in a day;
(b) in respect of a single transaction; or
(c) in respect of transactions relating to one event or occasion from a person, otherwise than by an account payee cheque or account payee bank draft or use of electronic clearing system through a bank account.