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The government in the last budget introduced Section 269ST. Under the section, cash transactions exceeding Rs.2 lakhs are prohibited with a view to promote digital economy. According to provision of Section 269ST- No person shall receive an amount of two lakh rupees or more In aggregate from a person in a day In a single transaction In respect of transactions relating to one event or occasion from a person The government has also introduced penalty provisions if Section 269ST is violated. If a p
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The government in the last budget introduced Section 269ST. Under the section, cash transactions exceeding Rs.2 lakhs are prohibited with a view to promote digital economy. According to provision of Section 269ST- No person shall receive an amount of two lakh rupees or more In aggregate from a person in a day In a single transaction In respect of transactions relating to one event or occasion from a person The government has also introduced penalty provisions if Section 269ST is violated. If a p
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How Much Gold Can You Buy Legally? Section 269ST of the Income Tax Act, prohibits cash transactions exceeding Rs 2 lakh in a single day, in aggregate from one person in a day, or in relation to transactions associated with a single event or occasion from one person. Consequently, gold purchases for an amount exceeding Rs 2 lakh in cash in a single day, would be in violation of income tax regulations. As a result of these two provisions, for individuals purchasing gold jewellery valued at Rs 2 la
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How Much Gold Can You Buy Legally? Section 269ST of the Income Tax Act, prohibits cash transactions exceeding Rs 2 lakh in a single day, in aggregate from one person in a day, or in relation to transactions associated with a single event or occasion from one person. Consequently, gold purchases for an amount exceeding Rs 2 lakh in cash in a single day, would be in violation of income tax regulations. As a result of these two provisions, for individuals purchasing gold jewellery valued at Rs 2 la
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FacebookBekifaayati
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