Cash transaction compliance a must w.e.f 1-4-2017 or face heavy penaly. ...

By : CS K. K. Agrawal




Provisions of section 269ST:



2. The section provides as follows:



No person shall receive an amount of three lakh rupees or more—



(a)   in aggregate from a person in a day; or

(b)   in respect of a single transaction; or

(c)   in respect of transactions relating to one event or occasion from a person, otherwise than by an account payee cheque or an account payee bank draft or use of electronic clearing system through a bank account:

Provided that the provisions of this section shall not apply to —



(i)   any receipt by—

(a)   Government;

(b)   any banking company, post office savings bank or co-operative bank;

(ii)   transactions of the nature referred to in section 269SS;

(iii)   such other persons or class of persons or receipts, which the Central Government may, by notification in the Official Gazette, specify.

Explanation.—For the purposes of this section,—



(a)   "banking company" shall have the same meaning as assigned to it in clause (i) of the Explanation to section 269SS;

(b)   "co-operative bank" shall have the same meaning as assigned to it in clause (ii) of the Explanation to section 269SS.



The section includes within its sweep all cash receipts of whatever nature such as cash sales, cash gifts, donations made in cash, compensation, encashment of securities/instruments etc. A penalty equal to the amount of such receipt shall be imposed u/s 271D

If you are self motivated then you are bound to become CA

By : CS K. K. Agrawal
Dear Students

Bapu Hanikarak nahin hai. Blessed are those students who are supported by immensely motivated parents who are hell bound to make you a better person.

The support of parents, relatives and friends are immensely important. If you are getting their love then you are blessed.

But above all, they all have their limitations. They cannot do your study. They cannot get into your mind to make you study. At best they can create an environment of study. Like tuition fees, table, chair, movie tickets etc. 

It is upto you how best you can utilise these resources to make yourself successful.

Whatever field you have chosen, the path you will travel, believe in it and give your best shot.

Future is always bright and one day certainly will come when you will make your parents proud the whole world proud.

Just remember your work will be done by you not others. Do remember you are super intelligent and can put in lots of hard work in immense pressure also.

All the best


CS K K Agrawal

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Govinda motivational speech at SRCC business conclave

By : CS K. K. Agrawal
Dear Students

Do listen to one of the finest speech of Govinda the Super Star. He has rightly said recognise your personality. Who you are actually. Try to find it out before it is too late.

I can recall a story of 65 year old very famous doctor. After retirement he started playing piano. He played and played for 2 to 3 years. At the age of 68 years he realised he wanted to become pianist but he became doctor.

Talk to yourself and decide what you want to become otherwise you will be forced to become what you do not want to become.

Thanks

CS K K Agrawal


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