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Clarification for the purposes of clause (c) of Section 269ST of the Income-tax Act, 1961 in respect of dealership/distributorship contract in case of Co-operative Societies
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Cash receipt aggregation rule clarified: daily cash receipts under dealership contracts need not be aggregated across the year when compliant. The mere existence of a dealership or distributorship contract with a cooperative society does not by itself constitute a single event or occasion for aggregation; cash receipts received by the cooperative on a particular day that are within the prescribed limit and comply with the payment mode requirements need not be aggregated with receipts on other days across the previous year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Cash receipt aggregation rule clarified: daily cash receipts under dealership contracts need not be aggregated across the year when compliant.
The mere existence of a dealership or distributorship contract with a cooperative society does not by itself constitute a single event or occasion for aggregation; cash receipts received by the cooperative on a particular day that are within the prescribed limit and comply with the payment mode requirements need not be aggregated with receipts on other days across the previous year.
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