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Section 271DA

Latest Articles


जीएसटी/आयकर एक्ट में नगद व्यवहार के नियम

CA, CS, CMA : जानें जीएसटी और आयकर एक्ट में नकद संव्यवहार के नि...

May 10, 2024 2196 Views 0 comment Print

Income Tax: Cash in hand, with limits to understand- Part 1

Income Tax : Explore provisions and penalties in the Income Tax Act 1961 regarding cash transactions. Understand limits for loans, deposits, an...

January 2, 2024 7851 Views 1 comment Print

Implication of Cash transactions under Income Tax Act, 1961

Income Tax : Through Income tax Act, 1961 cash transaction has been limited, restricted in certain cases. In this article you will get insights...

September 1, 2023 7791 Views 0 comment Print

Restrictions on Cash Transactions of Rs. 2 Lacs or More under Income Tax

Income Tax : Understand the restrictions on cash transactions of Rs. 2 lakhs or more under income tax law. Learn about the modes of undertaking...

June 13, 2022 359757 Views 9 comments Print

FAQs on Section 269ST in light of recent CBDT notification dated 07.05.2021

Finance : Section 269ST relaxations announced in Covid 2.0 times especially for payment of medical bills of INR 2 lacs or more; vide Notific...

May 9, 2021 5877 Views 0 comment Print


Latest News


Cash withdrawals from bank do not attract Section 269ST Penalty

Income Tax : It has also been decided that the restriction on cash transaction under section 269ST shall not apply to withdrawal of cash from ...

April 5, 2017 56058 Views 10 comments Print


Latest Judiciary


ITAT Deletes Section 271DA Penalty: Bonafide Mistake in New Legislation

Income Tax : ITAT Delhi rules no penalty for All Fresh Supply Management Pvt. Ltd. under Section 271DA, acknowledging no intent to evade tax. R...

May 27, 2024 615 Views 0 comment Print

Cash receipt at the time of registration of sale deeds of plots doesn’t violate section 269SS

Income Tax : ITAT Chennai held that there is no violation of provisions of section 269SS when all sale deeds were registered and cash payment w...

January 5, 2024 5004 Views 0 comment Print

Section 269ST apply to undisclosed income declared during survey proceedings

Income Tax : ITAT Ahmedabad held that provisions of Section 269ST of the Income Tax Act 1961 would apply to undisclosed income which was declar...

September 7, 2023 1857 Views 0 comment Print

Implication of Cash transactions under Income Tax Act, 1961

Income Tax : Through Income tax Act, 1961 cash transaction has been limited, restricted in certain cases. In this article you will get insights...

September 1, 2023 7791 Views 0 comment Print

ITAT deletes section 271DA penalty as cash deposit was by a party from remote location

Income Tax : Assessee demonstrated that cash deposit in its bank account by a party in the state of Assam is against its sales realisation and...

January 13, 2023 2922 Views 0 comment Print


Latest Notifications


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

Income Tax : Circular No. 22 of 2017 F.No.370142/10/2017-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Di...

July 3, 2017 13746 Views 1 comment Print


Latest Posts in Section 271DA

ITAT Deletes Section 271DA Penalty: Bonafide Mistake in New Legislation

May 27, 2024 615 Views 0 comment Print

ITAT Delhi rules no penalty for All Fresh Supply Management Pvt. Ltd. under Section 271DA, acknowledging no intent to evade tax. Read the full judgment here.

जीएसटी/आयकर एक्ट में नगद व्यवहार के नियम

May 10, 2024 2196 Views 0 comment Print

जानें जीएसटी और आयकर एक्ट में नकद संव्यवहार के नियम और प्रावधान। कितनी धनराशि के लिए टैक्स इनवॉइस जारी किया जा सकता है? पढ़ें और समझें।

Cash receipt at the time of registration of sale deeds of plots doesn’t violate section 269SS

January 5, 2024 5004 Views 0 comment Print

ITAT Chennai held that there is no violation of provisions of section 269SS when all sale deeds were registered and cash payment was made at one go before the sub-registrar at the time of registration of sale deeds of plots. Hence, penalty u/s 271D not leviable.

Income Tax: Cash in hand, with limits to understand- Part 1

January 2, 2024 7851 Views 1 comment Print

Explore provisions and penalties in the Income Tax Act 1961 regarding cash transactions. Understand limits for loans, deposits, and repayments to avoid penalties.

Section 269ST apply to undisclosed income declared during survey proceedings

September 7, 2023 1857 Views 0 comment Print

ITAT Ahmedabad held that provisions of Section 269ST of the Income Tax Act 1961 would apply to undisclosed income which was declared during the survey proceedings.

Implication of Cash transactions under Income Tax Act, 1961

September 1, 2023 7791 Views 0 comment Print

Through Income tax Act, 1961 cash transaction has been limited, restricted in certain cases. In this article you will get insights about how much you are allowed to transact in cash.

ITAT deletes section 271DA penalty as cash deposit was by a party from remote location

January 13, 2023 2922 Views 0 comment Print

Assessee demonstrated that cash deposit in its bank account by a party in the state of Assam is against its sales realisation and is duly accounted in its books of account and offered for taxation.

Section 269St not applies if assessee not received cash of more than Rs. 2 lakh in a day from one party

January 1, 2023 1389 Views 0 comment Print

Balaji Auto Enterprises Mysore Pvt. Ltd. Vs ACIT (ITAT Bangalore) ITAT observe from the order of the AO that the assessee has received cash more than 2.00/- Lakh from the four parties on different dates. As per the opinion of the AO the assessee has violated the provision of section 269ST, therefore, he imposed the […]

Restrictions on Cash Transactions of Rs. 2 Lacs or More under Income Tax

June 13, 2022 359757 Views 9 comments Print

Understand the restrictions on cash transactions of Rs. 2 lakhs or more under income tax law. Learn about the modes of undertaking transactions and the exceptions.

FAQs on Section 269ST in light of recent CBDT notification dated 07.05.2021

May 9, 2021 5877 Views 0 comment Print

Section 269ST relaxations announced in Covid 2.0 times especially for payment of medical bills of INR 2 lacs or more; vide Notification No. 56/2021-Income Tax Dated: 7th May, 2021 for a period of 2 months. Penalty on receipt of an amount of Rs. 2 lakh or more in cash Section 269ST (as inserted by the […]

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