CBDT notified that Section 269ST not applies to cash receipt  from banking company, post office savings bank or co-operative bank.

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)

New Delhi, the 5th April, 2017

NOTIFICATION NO. 28/2017

INCOME TAX

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.

[Notification No.28/2017, F.No.370142/ 10/2017-TPL

(Dr. T.S. Mapwal)

Under Secretary to the Government of India

 

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One response to “Section 269ST not applies to receipt from bank or post office”

  1. Ramesh Kumar Thakur says:

    What do you think About Deposit in Banking sector, still Deposit will attract the Penalty — Please suggest and advice me, Here is notifications regarding only Cash Receipt,
    in my opinion the notification is not clear

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