| Question And Answer | |
|---|---|
| Subject: | seller vs payments |
| Category: | Income-Tax |
| Querist: | BKS |
| Answered by: | Law Intern |
| Tags: | cash exceeding 2 lakhs, Section 269ST |
| Date: | April 24, 2025 |
can seller accept payment from 3rd party above Rs 2 lacs ?
any case laws ?
Section 269ST prohibits any person from receiving an amount of Rs. 2 lakh or more in cash from a person in a day or for a single transaction multiple days or for an event or occasion. This will apply to sellers also. I am not aware of any case law on the point.
Disclaimer: This article is only for general information and is not intended to provide legal advice. Readers desiring legal advice should consult with an experienced professional to understand the current law and how it may apply to the facts of their case. Neither the author nor itatonline.org and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any inaccurate or incomplete information in this article nor for any actions taken in reliance thereon. No part of this document should be distributed or copied (except for personal, non-commercial use) without express written permission of itatonline.org