TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Income Tax Bill 2025 Clause 185 prohibits cash transactions above Rs 20,000 to prevent tax evasion</h1> Clause 185 of the Income Tax Bill, 2025 replaces Section 269SS of the Income-tax Act, 1961, maintaining the same anti-evasion framework. The provision prohibits accepting loans, deposits, or specified sums exceeding twenty thousand rupees in cash, requiring transactions through account payee cheques, bank drafts, electronic clearing systems, or prescribed electronic modes. Key exceptions include government entities, banking companies, corporations, and agricultural transactions between parties with only agricultural income. The threshold increases to two lakh rupees for primary agricultural credit societies. The provision targets tax evasion and promotes transparency by ensuring traceable financial transactions, particularly in real estate through inclusion of property advances as 'specified sum.'
TaxTMI 
TaxTMI 