Granting further relief in view of the pandemic, provisions of Section 269ST of Income-Tax Act, 1961 have been relaxed by the Central government, allowing hospitals and other medical facilities ...

The income tax department carefully monitors high-value cash transactions, so taxpayers should exercise caution when engaging ...

The Income Tax Department is keeping an eye on big cash transactions, and you can get an income tax notice for the slightest mistake. Under section 269ST of the Income Tax Act, receiving more than Rs ...

India’s tax laws strictly limit how much cash a person or entity can accept in a single day — and breaking that rule can be costly. Under Section 269ST of the Income-tax Act, accepting ₹2 lakh or more ...

According to section 269ST of Income Tax Act, no person shall receive an amount of Rs 2 lakh or more from a person in a day. Such norm is not applicable to electronic transactions, cheque and bank ...

Income Tax Act restricts any person to receive an amount of two lakh rupees or more in cash, from a person in a day, in respect of a single transaction or in respect of transactions relating to one ...

In a big relief to NBFCs (non-banking finance compaines) and HFCs (housing finance companies), the Income-Tax Department has come out with a clarification on the transactions that will fall under the ...

Income tax rules: You can be subject to a fine if you make a cash transaction for more than ₹2 lakh or receive that much in a single day. Income tax rules: The income tax department carefully monitors ...