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of <h1>Section 269ST Limits Cash Transactions Over Rs. 2 Lakhs to Enhance Financial Transparency and Curb Cash Usage.</h1> Section 269ST of the Income Tax Act restricts cash transactions involving receipts of Rs. 2 lakhs or more. This restriction applies in three scenarios: when the amount is received in aggregate from a person in a single day, when it pertains to a single transaction, or when it is related to one event or occasion from a person. These provisions aim to curb the use of cash and promote transparency in financial transactions.
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