ITA 2025 · Chapter XII
Chapter XII
Sections in this chapter
- 185
Mode of Taking Loans Deposits
Section 185 is the substantive equivalent of 1961 s. 269 SS -- the cash-acceptance prohibition introduced 1984 to combat black-money channelisation through cash loans / deposits / advances. The provision PROHIBITS taking or accepting loan…
- 186
Cash Receipt INR 2L Bar
Section 186 is the substantive equivalent of 1961 s. 269 ST -- the BLANKET CASH-RECEIPT BAN introduced FA 2017 as part of post-demonetisation digital-economy push. PROHIBITS receipt of INR 2,00,000 OR MORE in cash from any person: (a) in…
- 187
Electronic Payment Facility
Section 187 is the substantive equivalent of 1961 s. 269 SU -- introduced FA 2019 mandating businesses with TURNOVER > INR 50 CRORE in preceding financial year to provide facility for accepting payments through electronic mode (UPI /…
- 188
Mode of Repayment
Section 188 is the substantive equivalent of 1961 s. 269 T -- the REPAYMENT-side mirror of s. 185 acceptance restriction. PROHIBITS repayment by branches of banking companies / co-op banks / OTHER ENTITIES of any loan / deposit /…
- 189
Chapter XII Definitions
Section 189 supplies definitional anchors for Chapter XII (ss. 185-188): banking company / co-operative bank / loan / deposit / specified sum / specified advance / electronic mode etc. Cross-references SCRA / Banking Regulation Act / RBI…