The Indian Government has issued cap on cash transactions on and penalty for transactions under sections –
13A -Exemption to political parties, 40A(3)- Disallowance for cash expenditure, 43(1)- Determination of actual cost of asset, 35AD- Investment linked deduction for capital expenditure, 80D- Health Insurance premium, 80G – Donations to certain funds and charitable institutions, 80GGA- Donations for scientific research and rural development, 80GGB – Donations by companies to political parties, 80GGC – Donations by any person to political parties, 269SS- Prohibition on acceptance of cash loans, deposits, etc., 269ST- Prohibition on receiving cash, 269T – Prohibition on repayment of loans or deposits in cash.
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