Salary advances taken by the employees wants to repay it in cash whether it attracts 269SS
3 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 16 April 2021
Yes payment in cash should not exceed 10000 rupees in cash u/s 269ST
Amogh Gokhale
(Proprietor)
(68 Points)
Replied 16 April 2021
My personal understanding.
Maximum Possibility (in case TOTAL AMOUNT is Rs 20,000/- or More)
Section 269SS wording downloaded from Official Income Tax Website is also attached.
Simple Question that may be asked by Tax Department : Why employee wants to repay in cash? Means he/she is having some undisclosed sources of Income...
Attached File : 3095090 20210416183802 269ss.pdf downloaded: 224 times
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