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limit of rs 200000/- transaction-wise /person-wise

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 June 2016 WHiat is the treshold limit of Rs 200000/- transaction-wise /person wise or in aggregate

please Clarify
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
11 June 2016 The limit is transaction wise.
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praveen

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praveen (Expert)
11 June 2016 I feel it is based on the invoice. If a person pays per invoice more than 2 Lakhs the section seems to apply. For more details : https://blog.mrpraveen.net/2016/06/06/update-changes-in-taxation-from-01-04-16/




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