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 186 prohibits cash receipts above two lakh rupees except through banking channels</h1> Clause 186 of the Income Tax Bill, 2025 continues the regulatory approach of Section 269ST of the Income Tax Act, 1961, by prohibiting cash receipts of two lakh rupees or more except through specified banking channels. The provision applies to aggregate receipts from a person in a day, single transactions, and transactions relating to one event or occasion. Permitted modes include account payee cheques, bank drafts, electronic clearing systems, and prescribed electronic modes. Exemptions exist for government entities, banking companies, post office savings banks, cooperative banks, and other notified persons. The clause aims to combat tax evasion, promote digital payments, and enhance transaction transparency while maintaining policy continuity with existing legislation.
TaxTMI 
TaxTMI 