Commercial Restrictions on Cash Transactions By Ram Dutt Sharma Edition April 2025

Income Tax Assessment of Trade Specific Sector Ram Dutt Sharma

Income Tax Assessment of Trade Specific Sector Ram Dutt Sharma

Content

1. Introduction
2. Different stages of Evolution of Money
3. Restrictions on Political Parties [Section 13A]
4. Disallowance of Depreciation under Section 32 on Cash Payments [Second proviso to Section 43(1)]
5. Disallowance of Expenditure on Specified Business – Cash payments [Section 35AD(8)(f)]
6. Disallowance for Cash Payments exceeding Prescribed Limit [Section 40A(3)]
7. If an expense is Recorded in the Prior Year but paid for in the Next Year [Section 40A(3A)]
8. Incentives to encourage Cashless Business Transactions [Sections 44AB & 44AD]
9. Cash Transactions in Tax Audit Report – Reporting Requirement
10. Unexplained Cash Attracts Section 69A
11. Restrictions on Amount Borrowed or Repaid on Hundi [Section 69D].
12. Restrictions on Income Tax Deductions [Chapter VIA].
13. Compulsorily filing of Income Tax Return [Seventh proviso to section 139(1)]
14. TDS from Cash Withdrawal Exceeding Rs. 1 Crore from Banks or Co-operative Bank or Post Office [Section 194N]
15. Prohibition on Acceptance of Cash Loans, Deposits, etc. [Section 269SS].
16. Restrictions on Cash Transactions [Section 269ST]
17. Mandating acceptance of Payments through prescribed Electronic Modes [Section 269SU].
18. Prohibition on repayment of Loans or Deposits in Cash [Section 269T]
19. List of High Value Cash Financial Transactions reported to Income Tax Department
20. Compliances in respect of Cash Transactions [Section 285BA read with rule 114E].
21. Cash Deposits in Banks
22. Treatment of Cash Gifts
23. Treatment of Cash Sales
24. Cash Discount
25. Payment of on-Money for Purchase of Property
26. Cash Transactions under GST
27. Cash Restrictions on Charitable Trusts
28. Cash transactions in Agricultural Sector
29. Treatment of Cash found during Search Operation
30. Cash Book – Test to be Satisfied
31. Cash in Hand : Test to be Satisfied
32. Negative Cash Balance
33. Accounting methods for Income Tax Calculation [Section 145]
34. Demonetisation
35. Assessment of Cash Deposits in Operation Clean Money (OCM) Cases
36. Revision of orders under Section 263 of the Income Tax Act, 1961 over unexplained Cash Deposit
37. Penalty for Failure to Comply with the Provisions of Section 269SS [Section 271D]
38. Penalty for Failure to provide Facility to Pay Through Prescribed Electronic Modes [Section 271DB]
39. Penalty for Failure to Comply with the Provisions of Section 269T [Section 271E]
40. Prosecution Proceedings