CBDT has vide circular no. 25/2022 Dt. 30.12.2022 issued clarification in relation to cash receipt in case of milk co-operative societies;
Section 269ST of the Income Tax Act inter-alia prohibits receipt of an amount of two lakh rupees or more (hereinafter referred to as ‘the prescribed limit’) by a person, in the circumstances specified therein, through modes other than by way of an account payee cheque or an account payee bank draft or use of electronic clearing system through a bank account or through such other electronic mode as may be prescribed.
2. References have been received in respect of Milk Producers’ Cooperative as to whether under the provisions of Section 269ST of the Act, receipt(s) in cash in a day of bank holiday/closure of bank day within ‘the prescribed limit’ from a distributor against sale of milk when payments were through bank on all other days is to be considered as a single transaction or whether all such receipts in cash in a previous year would be aggregated in respect of transactions with a distributor to treat it as one event or occasion.
3. With respect to the reference at Para 2 above, it is clarified that in respect of Co-operative Societies, a dealership/ distributorship contract by itself may not constitute an event or occasion for the purposes of clause (c) of Section 269ST. Receipt related to such a dealership/distributorship contract by the Co-operative Society on any day in a previous year, which is within ‘the prescribed limit’ and complies with clause (a) as well as clause (b) of Section 269ST, may not be aggregated across multiple days for purposes of clause (c) of Section 269ST for that previous year.
Thus, considering the above clarification it can be a said that a contract cannot be considered as one event but transaction on each day can be considered as a single event.
To read the notification CLICK ME.
When I lost my money to online scammers through crypto investment, I never thought I could ever retrieve back my money again but I decided to give it a try after my Inlaw introduced me to this incredible honest hacker that she had worked with to retrieve back her bitcoin when she mistakenly sent it to a wrong wallet address when trying to make payment to someone, so when I brought up the issue of me loosing money to an online investment in a dinner at my place she was curious to hear how it happened and it turned out she still had the hackers contact which she provided me with later on, I reached out to them the next morning and provided the transaction hash, wallet address of the scammers and the website, I was surprised after receiving the first half of my money within just 48 hours and the rest is being traced back to the second wallet address I made payment to, Jamesmckaywizard and his team brought back my hope of living back to life because I never thought of what I could have done if I wasn’t able to recover this money back, this includes my retirement funds, I’m so grateful to the team for their effort and good service, if you’re encountering same issue kindly reach out to them on the provided details bellow:
What’s App:+91 98632 93475
I strongly advise using this very reputable Zatt Recovery for anyone looking to recover any type of crypto currencies assets from online frauds, Wallet hackers, or BTC transferred to the wrong address. After I lost a lot of money to those terrible con artists posing as recovery specialists, this recovery specialist was great in aiding me in getting my Bitcoin back. After I gave Mr Zatt the relevant details and prerequisites, a total of 1.4170 BTC was eventually recovered. I was overjoyed that I had been able to recover this much after having lost even more to the problems I had dealt with before discovering Zatt Recovery. So don’t hesitate to get in touch with zattrecoverypro1 @gmail com. if you find yourself in this scenario and need help recovering from an online bitcoin scam
Losing your Bitcoin and cryptocurrency can be devastating especially when you have invested all your money into it. Everyone thought it was impossible to trace and recover cryptocurrency, I’m here to let you know that Bitcoins and any other cryptocurrencies can be fully recovered with the right information. I was lucky to come across WARDRIVERS CYBER, a cryptocurrency recovery company that was able to recover all the money that I lost in crypto. I’m grateful for the help of WARDRIVERS CYBER and I recommend their services to everyone out there who needs a reliable and trustworthy crypto recovery company. You can reach WARDRIVERS CYBER via E-mail: WARDRIVERSCYBERSERVICE@TECHIE(.)COM
A MUST READ FOR ANYONE WHO HAS EVER FALLEN FOR CRYPTO SCAM BEFORE
Another Successful Bitcoin Recovery, My husband and I are another successful client of Recovery Masters among many. I read countless positive reviews about how they have been using their Recovery expertise to help people achieve their happiness back by recovering their scammed or lost Bitcoin and assets from fraudulent and posers of Cryptocurrencies trading companies. After reading many of the wonderful services they render, I had to contact them because my husband was seriously defrauded by some scammers online, it all ended in goodwill as we were able to recover what we thought we had lost to scammers. Contact them on email ( email@example.com )
It’s an honor to share this testimony to the world. Dr Benjamin you’re a blessing to our generation. I have always desired to win lottery some day, at some point I thought it was something impossible, until I came across series of testimonies on how had helped a lot of people win lottery, at first I was so skeptical about it because I haven’t seen a things as such in my life, at a second thought I decided to give it a try so I emailled him via his person email, he replied me and instructed me on what to do, after 24 hours he gave me some numbers and I won $2 million just like that. Dr Bejamin I owe everything for making me the man that I am right. If you need his help below is his contact information, he can help too