Скачать или смотреть Beware of Income Tax Department

Tejas aur uske dost ko pakdna mushkil hi nahi namumkin hai 🕶️

As per Section 269ST - Mode of undertaking transactions.—No person shall receive an amount of two lakh rupees or more by cash. (a) in aggregate from a person in a day or (b) in respect of a single transaction ❌

However, it can be received by cheque, debit/credit card, net banking, UPI, RTGS etc. ✅

➡️ What if you receive cash of more than 2 lakh? Take note that the restriction is only on the person receiving money and not on the person paying money.

As per Section 271 DA: Penalty = Amount of cash received 😱

Section 271DA - If a person receives any sum in contravention of the provisions of section 269ST, he shall be liable to pay, by way of penalty, a sum equal to the amount of such receipt”

So beware when someone hands over 2 lakh or more cash to you.