Query about 269ss, 269tt, 40a for transactions

1. My Client have Unsecured Loan of Rs. 112000/- with interest. He paid Rs. 100000/- by cheque but remaining Rs. 12000/- by cash is any penalty Section attract.
 
2. Receiving Advance Cash Rs.19500/- per day against Sales transaction in future which invoice value is Rs. 2,00,000/-. is any penalty Section attract.
 
3. Payment of Bill Rs. 2,00,000/- after sales transaction paid Rs. 19500/- per day and Receipts taken. is allowed or not? Expert Comments Please.

 
Replies (1)

Sec 269SS and Tt are applicable only in TAX audit cases.

Further, if you go through the sections, It clearly states that transaction limit for cash is 20000/- in the year. So point no. 1.: No Penalty.

2. No penalty

3. No Penalty

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
ARTICLESHIP 25 October 2026
Article Intern (CA Articleship)

Arpan Bohra & Co

Hyderabad

CA Inter

View Details
Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details