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Cash transaction limit

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(Querist)
20 May 2017 I am gold and silver jewellers can I purchase old golf from the costumer of rupees 2 Lac in cash.
Can I purchase gold jewelry from dealer in cash upto 2lac
Pl advise and consern sec
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CA Mohit Kumar

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CA Mohit Kumar (Expert)
21 May 2017 cash transcation limit is now 10,000/- for purchase. .see 40a(3) except you covered under 44AD
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shitij shah

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shitij shah (Querist)
22 May 2017 Pl specify as I can sell in cash upto rs 2 lacs can I purchase the same




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