Section 269ST

Cashless Economy And The Role of Banks

Finance - Traditionally, Indian Economy had been an economy where cash has been the King in the settlement between various parties. This was mainly because organized banking had not spread throughout the length and breadth of the country. However, the nationalization of the banks in the year 1969, by the Central Government to some extent had increa...

Read More

Budget 2019: Prescription of other electronic mode of payments

Finance - There are various provisions in the Act which prohibit cash transactions and allow/encourage payment or receipt only through account payee cheque, account payee draft or electronic clearing system through a bank account. Section 13A of the Act requires a political party to receive donation exceeding rupees two thousand only through an acc...

Read More

Brief Study of Section 269ST of Income Tax Act, 1961

Finance - In this article we will understand why section 269ST is introduced and what is the need of invoking such provisions, Section 269ST was introduced by finance act, 2017 in Income tax act, 1961 by the central government in order to curb the tax evasion, regulation and circulation of Black money. Most of the transactions in […]...

Read More

Precautions to be taken while entering into a real estate transaction

Finance - In this article we will be discussing about the precautions to be take care while entering into a real estate transaction. Let us understand this article in the form of short story; There are two brothers namely Pushp kumar sahu and Uday kumar sahu who have entered into a transaction of immovable property worth 48 […]...

Read More

Cash transaction – Section 269ST

Finance - Limit/Restriction on Cash transaction U/s 269ST of Income Tax Act.1961- Cash transactions in the economy mainly responsible to increase or promote the black money circulation in their respective fields/Areas. With an objective to control the black money circulation and promote the digital economy in the country the Government has introdu...

Read More

Clean Transactions, Cleaner Economy, Go Cashless, Go Clean

Finance - DON’T √ Accept cash of Rs.  2,00,000 or more in aggregate from a single person in a day or for one or more transactions relating to one event or occasion. √ Receive or repay Rs.  20,000 or more in cash for transfer of Immovable Property. √ Pay more than Rs.  10,000 in cash relating to […]...

Read More

ICAI President’s Message – May 2017 on GST, Tax Changes etc.

Finance - The Finance Bill, 2017 proposed an insertion of Section 271J in the Income-tax Act, 1961. Considering the undue hardships to be caused to our members, the ICAI had made various representations to the Ministry of Finance, Revenue Secretary and CBDT...

Read More

Cash withdrawals from bank do not attract Section 269ST Penalty

Finance - It has also been decided that the restriction on cash transaction under section 269ST shall not apply to withdrawal of cash from a bank, co­operative bank or a post office savings bank....

Read More
Sorry No Post Found

Clarifications in respect of section 269ST of Income-tax Act, 1961

Circular No. 22 of 2017-Income Tax - (03/07/2017) - Circular No. 22 of 2017 F.No.370142/10/2017-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) (TPL Division) *** Dated 03rd July, 2017 Clarifications in respect of section 269ST of the Income-tax Act, 1961 With a view to promote digital economy and cre...

Read More

Transaction on which provision of section 269ST shall not apply

Notification No. 57/2017-Income Tax [S.O. 2065(E)] - (03/07/2017) - Central Government hereby specifies that the provision of section 269ST shall not apply to the following, namely: (a) receipt by a business correspondent on behalf of a banking company or co-operative bank, in accordance with the guidelines issued by the Reserve Bank of India;...

Read More

Section 269ST not applies to receipt from bank or post office

Notification No. 28/2017-Income Tax [S.O. 1057(E))] - (05/04/2017) - CBDT notified that Section 269ST not applies to cash receipt from banking company, post office savings bank or co-operative bank....

Read More

Recent Posts in "Section 269ST"

Cashless Economy And The Role of Banks

Traditionally, Indian Economy had been an economy where cash has been the King in the settlement between various parties. This was mainly because organized banking had not spread throughout the length and breadth of the country. However, the nationalization of the banks in the year 1969, by the Central Government to some extent had increa...

Read More
Posted Under: Income Tax |

Budget 2019: Prescription of other electronic mode of payments

There are various provisions in the Act which prohibit cash transactions and allow/encourage payment or receipt only through account payee cheque, account payee draft or electronic clearing system through a bank account. Section 13A of the Act requires a political party to receive donation exceeding rupees two thousand only through an acc...

Read More
Posted Under: Income Tax |

Brief Study of Section 269ST of Income Tax Act, 1961

In this article we will understand why section 269ST is introduced and what is the need of invoking such provisions, Section 269ST was introduced by finance act, 2017 in Income tax act, 1961 by the central government in order to curb the tax evasion, regulation and circulation of Black money. Most of the transactions in […]...

Read More
Posted Under: Income Tax |

Precautions to be taken while entering into a real estate transaction

In this article we will be discussing about the precautions to be take care while entering into a real estate transaction. Let us understand this article in the form of short story; There are two brothers namely Pushp kumar sahu and Uday kumar sahu who have entered into a transaction of immovable property worth 48 […]...

Read More
Posted Under: Income Tax |

Clean Transactions, Cleaner Economy, Go Cashless, Go Clean

DON’T √ Accept cash of Rs.  2,00,000 or more in aggregate from a single person in a day or for one or more transactions relating to one event or occasion. √ Receive or repay Rs.  20,000 or more in cash for transfer of Immovable Property. √ Pay more than Rs.  10,000 in cash relating to […]...

Read More
Posted Under: Income Tax |

Cash transaction – Section 269ST

Limit/Restriction on Cash transaction U/s 269ST of Income Tax Act.1961- Cash transactions in the economy mainly responsible to increase or promote the black money circulation in their respective fields/Areas. With an objective to control the black money circulation and promote the digital economy in the country the Government has introdu...

Read More
Posted Under: Income Tax |

Relaxation of Penalty U/S 271DA for Violation of Section 269ST

Finance Act 2017, instead of amending section 273B, inserted a proviso to section 271DA itself to the effect that, no penalty shall be imposable if such person proves that there were good and sufficient reasons for the contravention of section 269ST. However, what could constitute good and sufficient reasons for contravention have not bee...

Read More
Posted Under: Income Tax |

Whether Section 269ST also applies To Capital Contribution To / Withdrawals From Firm By Partner

Whether the provisions of Section 269ST are also applicable on transactions between the firm and its partners? In this article an attempt has been made to discuss various aspects of this issue....

Read More
Posted Under: Income Tax |

“Event” Or “Occasion” In Section 269ST of Income Tax Act: An Analysis

Article give Introduction of Section 269ST further article explains Ambiguity Relating To The Words 'Event' / 'Occasion' Used In Section 269ST, Requirements To Ensure Compliance With Clause (c) of Section 269/ST, Different Type Of Events / Occasions for Section 269ST, Separatebility / Inseparatibility Of Transactions and  Some Suggested ...

Read More
Posted Under: Income Tax |

Section 269ST- How to Compute Limit in different circumstances

Union Budget 2017-18: Restrictions Levied On Cash Receipts U/S. 269ST– How to Compute Limit of Less Than Rs. 3 Lakhs in Different Circumstances ...

Read More

Browse All Categories

CA, CS, CMA (4,383)
Company Law (5,183)
Custom Duty (7,498)
DGFT (4,055)
Excise Duty (4,280)
Fema / RBI (3,905)
Finance (4,055)
Income Tax (31,295)
SEBI (3,255)
Service Tax (3,484)

Search Posts by Date

December 2019
M T W T F S S
« Nov    
 1
2345678
9101112131415
16171819202122
23242526272829
3031