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Cash payment exceeding rs.20,000/-

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 May 2017 If i deposit cash Rs.37,000/- in my clients bank account against goods purchased from him, will it be a violation of Section 40(A) 3 ? (During FY 2016-17).
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Expert : Anonymous

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Expert : Anonymous (Expert)
20 May 2017 yes, it will disallowed
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
27 May 2017 In my opinion direct cash deposit would amount to cash receipt as the exemption is only for RTGS, NEFT or cheque.




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