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Income Tax - Frequently Asked Questions (FAQs) |
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FAQs on Disallowance of cash expenses or limit on cash transactions |
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What is the provision of Section 269ST? |
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Ans. Section 269ST restricts a person (recipient) from receiving an amount of Rs. 2 lakhs or more otherwise than by an account payee cheque or account payee bank draft or use of an electronic clearing system through a bank account or other electronic modes prescribed in Rule 6ABBA. |
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