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What is Cash Receipt Limits Under Income Tax Act about?

This document discusses various provisions under the Income Tax Act relating to cash receipts exceeding Rs. 2 lakhs, including Section 269ST, Section 285BA, and Section 206C. Section 269ST prohibits the receipt of cash amounts of Rs. 2 lakhs or more in a day or single transaction, unless received through account payee cheque, draft, or electronic funds transfer. Section 285BA requires specified entities to report certain financial transactions exceeding Rs. 2 lakhs in cash to tax authorities. Section 206C

Author

A S Vinod Kumar

Language

EN