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New section 269ST is applicable as under

Admin 2017-02-09




New section 269ST is applicable as under

 

1. If u accept  3 Lac or more  from same person in a day even against different bills  section is violated

2. If u accept  3 Lac or more from a person against one bill even on different days section is atracted

3. If u accept 3 Lac or more from a person for a series of transactions emanating from one event or ocassion section is attracted

 

 Applicability of section 269ST

 

1. If one sells goods worth Rs 450000 through three different bills of 150000 each to one person and accepts cash in single day at different times then section 269ST(a) will get violated

2. If one sells goods worth Rs 400000 through single bill to Another person and receives cash of 200000 on day1 and another 200000 on day 2 then section 269ST(b ) will get violated.

3. If A accepts cash of 100000 for catering Rs 150000 for decoration and rs 150000 for tent house work then section 269ST(c) will get violated even if cash is accepted on different dates. Penalty for Violation being 100% of cash received!


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