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section 269st

akshay (ipcc student) (32 Points)

13 January 2018

is section is appicable on cash withdrawl from bank too...

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178001 Points)
Replied 13 January 2018

NO. Not from own account.....

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akshay (ipcc student) (32 Points)
Replied 13 January 2018

but section didn't provide any clarification...

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178001 Points)
Replied 13 January 2018

CBDT vide Notification No. 28/2017 dated 05-04-2017 clarified that the Sec. 269ST will not apply to withdrawal of cash from banks, co-operative banks or post office savings banks.

NOTIFICATION [Notification No.28/2017]

S.O. 1057(E).-

In exercise of the powers conferred by clause (iii) of the proviso to section 269ST of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that the provision of section 269ST shall not apply to receipt by any person from an entity referred to in sub-clause (b) of clause (i) of the proviso to section 269ST.

2. The notification shall be deemed to have come into force with effect from 1st day of April, 2017.

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