Cash transaction limit under Income Tax

Cash Transaction Limits as per Income Tax Act 1961

5 February 20242 February 2024 by Adv Aditya Narayan

Cash Transaction Limits under Various Sections of Income Tax Act Income Tax Act restricts cash transaction over a certain limit according to the provisions under some sections of the act. The main purpose behind enacting such a provision on cash …

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6 Pivotal Cash Transactions that Might Prompt the Income Tax Department Issuing Notice on You

22 January 202413 January 2024 by Adv Aditya Narayan

Six Types of High Value Cash Transactions That May Trigger Towards a I-T Notice on You The Income Tax Act imposes restrictions on cash transactions above specified limits, aiming to combat black money and tax evasion while promoting transparent business …

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