Section 269ss and section 269t

Finance-Section 269TActs

anti-black-money-step-by-government-section-269ss-269t

Originally posted by : B
	The above link shows that 269 SS applies to Mode of taking or accepting certain loans, deposits and specified sum. In that case a  cash of high value whether as gift or for any other purpose other than loan/deposit if given to a relative will be trated as specified sum and will be under 269 SS. Will not it be?

Other than loan acceptance or repayment this section not applicable but section 269ST will be applied:

Refer: section-269st-income-tax-act-1961

Thank you for the links. Can you please answer the below query?

The above link incometaxindia.gov.in/Acts/Finance shows that 269 SS applies to Mode of taking or accepting certain loans, deposits and specified sum. In that case a  cash of high value whether as gift or for any other purpose other than loan/deposit if given to a relative will be trated as specified sum and will be under 269 SS. Will not it be?

Read more at: /forum/details.asp?mod_id=375384&offset=2

Only if by cash mode.....

So is it that even a gift cannot be given to a relative of amount more than 200000 as a lump sum in cash? In which month in 2017 this section 269ST started gy government or IT department?

w.e.f. 1April 2017 The sec 269 ST have been introduced by Finance Act 2017 to put a limit on cash Transaction.Yes it is applicable even in case of gifts from relatives.