Restriction on cash receipts requires specified electronic or cheque modes for large receipts to ensure traceability. Section 269ST bars a recipient from accepting amounts at or above the statutory threshold except by account payee cheque, account payee bank draft, ... Summary
Restriction on cash receipts requires specified electronic or cheque modes for large receipts to ensure traceability.
Section 269ST bars a recipient from accepting amounts at or above the statutory threshold except by account payee cheque, account payee bank draft, electronic clearing system through a bank account, or other electronic modes prescribed by rule, thereby directing significant receipts into traceable banking or electronic channels.
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