SECTION 269ST - Restriction on Cash Receipts:
Section 269ST, provides that no person shall receive an amount of 2,00,000/- or more in cash or bearer cheque.
(i) In aggregate from a person in a day (or),
(ii) In respect of a single transaction (or),
(iii) In respect of transactions relating to one event or occasion from a person.
Violation of above section shall be liable to pay, by way of penalty, a sum equal to the amount of such receipt - Section 271DA
SECTION 269SS- Restriction on cash receipts:
Section 269SS, provides that no person shall take or accept
(i) Any loan (or),
(ii) Deposit (or),
(iii) Any specified Sum.
In cash Rs. 20,000 or more in an aggregate; or such an amount which results in the amount remaining unpaid to the person, exceeds Rs. 20,000 or more.
Violation of above section shall be liable to pay, by way of penalty, a sum equal to the amount of such receipt - Section 271E.
SECTION 269T: Restriction on Cash Re-Payments:
No person shall repay
(i) Any loan (Incl. interest) or
(ii) Deposit made with it (Incl. interest) or
(iii) Any specified advance received
in cash Rs.20,000 or more; or any amount if the aggregate amount of loans, deposits or specified advances either in his own name or jointly with any other person on the date of such repayment together with the interest if payable is Rs.20,000 or more.
Brief Study on 269SS, 269T and 269ST: