29 November 2016
INCOME TAX RULE 114E The statement of financial transaction required to be furnished under sub-section (1) of section 285BA of the Act shall be furnished in respect of a financial year in Form No. 61A and shall be verified in the manner indicated therein. Class of person (reporting person)- Any person who is liable for audit under section 44AB of the Act.
SIR I AM IN CONFUSION ABOUT IT LIMIT OF 2 LAKH IS FOR ONE BILL OR WHOLE TRANSACTION OF ONE FY
IF ANY PURCHASER PURCHASE GOODS OF RS.8 LAKH IN ONE FY BUT IT DIVIDE IN MANY SMALL BILL UNDER RS.2 LAKH
SO QUESTION ARISE WILL THIS RULE APLY FOR THAT PURCHASER OR NOT ?
29 November 2016
IF ANY PURCHASER PURCHASE GOODS OF RS. 2.50 LAKH IN 5 BILLS EACH BILL ARE OF RS. 50000 PAYMENT ALWAYS PAY IN CASH WHAT WILL IN THIS SITUATION ?
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