Mode of undertaking transactions - Section 269ST & Section 271DA

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..... person, otherwise than by an account payee cheque or an account payee bank draft or use of electronic mode as may be prescribed. Exception - However, the provisions of this section shall not apply to- any receipt by Government or any banking company, post office savings bank or co-operative bank transactions of the nature referred to in section 269SS such other persons or class of persons or rece .....

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..... ection 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. No penalty shall be imposable if such person proves that there were good and sufficient reasons for the contravention. Any penalty shall be imposed by the Joint Commissioner. Important Notification Clarification 1. .....

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