Cash purchase limit

This query is : Resolved 
 

(Querist)
13 August 2017

Sir i m unrajisterd dealar my turnover 15 lack i want to know about cash purchase limit in year and single day and cash sale limit in a day


SEETHARAMAN (Expert)

13 August 2017

No limit for a year. Cash purchase limit from a person in a single day should not exceed 2 Lacs similarly for sales.

Amit Maloo (Querist)
13 August 2017

Thanks sir.. But my CA SAY LIMIT FOR CASH RRANSECTION IS 10000 AS PAR INCOME TAX ACT? WHAT IS THIS SIR

SEETHARAMAN (Expert)

14 August 2017

For your turnover opting 8% profit u/s 44AD no need to maintain accounts so 10000 limit not applicable to you.

Amit Maloo (Querist)
14 August 2017

So finaly i can whole purchase arround 10 lakh in cash?limit par day bepow 2lakh



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