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Purchase of share in cash

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(Querist)
23 July 2022 Is there any restriction on purchase of shares of private limited company in cash.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
23 July 2022 Cash payment should not exceed 2 lacs as per section 269ST of income tax Act.
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SHYAM KRISHNAN K

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SHYAM KRISHNAN K (Querist)
23 July 2022 Its ok. This restriction only for receiving 2 lakh above in a single day. I want to know that, is there any provision in the act regarding receiving of share application money by bank transfer only.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
23 July 2022 No restriction on case of bank transfer.

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