| Question And Answer | |
|---|---|
| Subject: | sale of white goods by a dealer to consumer above 2 lacs |
| Category: | Income-Tax |
| Querist: | BS |
| Answered by: | Law Intern |
| Tags: | Section 269ST |
| Date: | April 15, 2025 |
IS it mandatory to accept cheque from bank account of buyer only or can payment from 3rd party or even NRI is allowed ?
If the payment is above ₹2 lakh, there may be construed to be loan between the buyer and the payer of the money which may attract section 269ST of the Income-tax Act.
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