Section 186: Mode of undertaking transactions
The Income-tax Act, 2025Central Act · Act 30 of 2025
Mode of undertaking transactions.
(1) No person shall receive an amount of Rs. 200000 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; or
(ii) account payee bank draft; or
(iii) electronic clearing system through a bank account; or
(iv) any other electronic mode, as may be prescribed.
(2) Sub-section (1) shall not apply to—
(a) any receipt by Government, any banking company, post office savings bank or co-operative bank;
(b) transactions of the nature referred to in section 185;
(c) such other persons or class of persons or receipts, as may be notified by the Central Government.
Where this provision sits
| Act | The Income-tax Act, 2025 |
|---|
| Section | 186 |
|---|
| Marginal note | Mode of undertaking transactions |
|---|
| Jurisdiction | Central |
|---|
| Status | In force as published by the source |
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