(1) No person shall receive two 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, except through—(i) an account payee cheque;(ii) account payee bank draft;(iii) electronic clearing system through a bank […]

Every person shall provide facility for accepting payment, through electronic modes as prescribed, in addition to other electronic modes, if any, being provided by him, where––(a) such person is carrying on business; and(b) total sales, turnover, or gross receipts in such business exceeds fifty crore rupees during the immediately preceding tax year.

(1) No branch of a banking company or co-operative bank and no other company or co-operative society and no firm or other person shall repay—(a) any loan or deposit made with it; or(b) any specified advance received by it, except through––(i) an account payee cheque; or(ii) account payee bank draft drawn in the name of

In this Chapter, unless the context otherwise requires,—(a) “banking company” means a company to which the provisions of the Banking Regulation Act, 1949 applies and includes any bank or banking institution referred to in section 51 of that Act;(b) “primary agricultural credit society”, and “primary co-operative agricultural and rural development bank” shall have the meanings

Where there is included in the total income of an assessee any income on which no income-tax is payable under the provisions of this Act, the assessee shall be entitled to a deduction, from income-tax with which he is chargeable on his total income, of an amount equal to the income-tax calculated at the average

Where the accumulated balance due to an employee participating in a recognised provident fund is included in his total income, owing to the provisions of paragraph 8 of Part A of Schedule XI not being applicable, the Assessing Officer shall calculate the total of the various sums of tax as per the provisions of paragraph

(1) The total income of the block period, determined under section 294 shall be chargeable to tax at the rate of 60%.(2) The tax chargeable under sub-section (1) shall be increased by a surcharge, if any, levied by any Central Act.

(1) Where the total income of an assessee, being an individual, who is a resident and an employee of an Indian company engaged in specified knowledge based industry or service, or an employee of its subsidiary engaged in specified knowledge based industry or service (hereafter in this section referred to as the resident employee), includes

(1) Irrespective of anything contained in any other provision of this Act, where the total income of an assessee as mentioned in column B of the Table below, includes income of the nature specified in column C of the said Table, the income-tax payable by such assessee, for a tax year, shall be the aggregate

(1) Where the total income of an assessee—(a) includes any income referred to in section 102 or 103 or 104 or 105 or 106 and reflected in the return of income furnished undersection 263; or(b) determined by the Assessing Officer includes any income referred to in any of the said sections, if such income is