Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2017 Year 2017 This

The restriction on cash transaction (an amount of two lakh ...

News     Income Tax

April 6, 2017

The restriction on cash transaction (an amount of two lakh rupees or more) shall not apply to withdrawal of cash from a bank, co-operative bank or a post office savings bank - Sections 269ST & 271DA to the Income-tax Act.

View Source

 


 

You may also like:

  1. Amendment of section 206C. - TCS - Tax Collection at source - expansion - the seller shall collect the tax at the rate of one per cent. on the sale of motor vehicle of...

  2. Amendment of section 194LA. - TDS - no deduction shall be made in case where the amount of compensation or aggregate of such sum relating to acquisition of immovable...

  3. Cash transactions proposed to be capped at ₹ 2 lakh

  4. Unexplained investment u/s 69 - cash deposit - the alleged transactions of cash deposits and corresponding entries of cheque issued were not in the nature of any...

  5. Amendment of section 194C. - TDS - the person responsible for paying the sums referred to in subsection (1) of the said section shall be liable to deduct income-tax,...

  6. Tax collection at source (TCS) @1% is on sale of any motor vehicle of the value exceeding ten lakh rupees or @1% if sale consideration received in cash exceeds 2 lakh...

  7. Capital gains - treating information contained in ITS as related to transaction of sale of immovable property - Assessee had pointed out how the two transactions...

  8. Addition u/s 68 - large cash withdrawal by the assessee immediately before the search and seizure operation - during search and seizure operation, the cash amount was...

  9. Levy of penalty in case of professional or other misconduct - minimum penalty reduced from ₹ 10 lakh rupees to 5 lakh rupees - Section 132(4) of the Companies Act, 2013

  10. Addition u/s 69A - unexplained income - cash deposits made into bank account during demonetization period - assessee neither furnished stock summary nor bills/vouchers...

  11. The assessee, a septuagenarian gynecologist with no business income during the year, made cash deposits totaling Rs. 10 lakh in her bank account during demonetization....

  12. Refund of amount deposited as pre-deposit - It stands clear that appellant is entitled for refund of ₹ 15 Lakhs as were paid in cash by him at the time of the...

  13. Unexplained cash deposit - In many cases, small amounts were withdrawn two or three times on a single day by different persons. Further, the deposits in Bank were made...

  14. Petitioner filed application seeking sanction of eligible refund amount along with applicable interest. Court held that respondent shall process petitioner's application...

  15. Cash deposits made during demonetization period from cash withdrawals and rental income received in cash were substantiated through cash flow statements and bank...

 

Quick Updates:Latest Updates