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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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Which transactions are covered in the ambit of Section 269ST? |
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Ans. This provision imposes restrictions in respect of the receipts of Rs. 2 lakhs or more: a) In aggregate, from a person in a day; or b) In respect of a single transaction; or c) In respect of a transaction relating to one event or occasion from a person. |
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