Tag Archives: Section 269ST

Section 269ST – Cash Receipt Rs 2 Lakh or more Banned w.e.f 01.04.2017

By | December 15, 2018

Section 269ST – Cash Receipt Rs 2 Lakh Banned w.e.f 01.04.2017 Section 269ST Income Tax Act 1961 : Finance Act 2017 of India has been inserted by Finance Act 2017 w.e.f 01.04.2017 . It provided restriction on Cash Receipt of Rs 2 Lakh or more.  This provision being new, there is still a lot of confusion and… Read More »

Cash Withdrawal from Bank not covered in Section 269ST – Notification

By | April 7, 2017

( Read 269ST- Cash Receipt Rs 2 Lakh or more Banned w.e.f 01.04.2017] MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 5th April, 2017 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… Read More »

269ST- Cash Receipt of Rs 2 Lakh or more- not apply to Receipt from Bank

By | April 6, 2017

Budget 2017 takes Steps to discourage Cash transactions & curb Black Money Various legislative steps have been taken by the Finance Act, 2017 to curb black money by discouraging cash transaction and by promoting digital economy. [ Read Analysis of Section 269ST – Cash Receipt Rs 2 Lakh or more Banned w.e.f 01.04.2017 ] These prominently… Read More »

Key Changes proposed in Finance Bill 2017

By | March 22, 2017

Changes proposed in Finance Bill, 2017 Changes made in the Finance Bill, 2017 as passed by the Lok Sabha viz-a-viz the Finance Bill, 2017 presented originally in the Lok Sabha [ Read  Finance Bill 2017 Amendment -Lok Sabha 20.03.2017-Download/Print ]  1) Threshold limit prohibiting cash payments reduced Finance Bill, 2017 had imposed a prohibition on receipt of… Read More »

Post Budget Memorandum on Direct Taxes – 2017-18- BOCA

By | March 11, 2017

Bombay Chartered Accountants Society Date : 8th March 2017 Mr. Arun Jaitley Hon. Minister of Finance Government of India North Block New Delhi – 110 001. Respected Sir, THE FINANCE BILL – 2017 We compliment you for the focused and non populist Budget that was presented on 1st February. The idea of combining the Rail… Read More »

269ST – Burning Issues on ban on Cash receipts of Rs 3 Lakh or above -Budget 2017-18 Suggestions

By | March 6, 2017

Suggestions on Clause 83 of Finance Bill 2017- Section 269ST- Restriction on cash transactions –Certain concerns to be addressed In order to achieve the mission of the Government to move towards a less cash economy to reduce generation and circulation of black money, the Finance Bill 2017 proposes to insert section 269ST in the Act… Read More »

No Person can receive cash of Rs 3 Lakh or more w.e.f 01.04.2017 – Section 269ST

By | February 2, 2017

Restriction on cash transactions in India -Section 269ST of Income Tax Act [ Section 269ST of Income Tax Act  proposed by Finance Bill 2017 w.e.f 01.04.2017] Commentary on Section 269ST – Cash Receipt of Rs 3 Lakh or More  w.e.f 01.04.2017 Read  Analysis of Section 269ST – Cash Receipt Rs 2 Lakh or more Banned w.e.f… Read More »