MR X HAS SOLD GOODS TO MR Y. As follow and received payment in cash
1. 01/04/2017 BILL AMT 85000 PAYMENT REC. 85000 cash
2. 03 /04/2017 bill amount 150000 payment received 150000 cash
3. 05/04/ 2017 bill amount 180000 paynent recuved
180000 cash
Whether the above trasaction attracts the provision of cash transaction and penalty attracts
Becasue its not one day transaction
cash received more than 200000/- per day
as per sec 269st
Still section 269ST not inserted in IT Act-1961, only declare at Budget 2017
RMA And Associates LLP
New Delhi
CA Inter
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Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Final
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CCI
Pro
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