rajukumar (Student) (35 Points)
22 November 2016I have a lump sum amount of hard cash with me. Also at this present time of demonetization I need cash as my most of the transactions are cash based only. Please suggest how to deal with it.
Nitin Arora
(Financial Audits)
(53 Points)
Replied 22 November 2016
No, you won't be able to exchange all your cash that you have in your hand in one go. You can only receive upto Rs. 4000/person/day. Moreover if you have most of your transactions via cash only then for the time you can ask your client/customer to move towards online transaction system. This will help you make more safer and easier transactions fastly.
If you want to know more information on how to deal with cash crunch during demonetization, then you can read this infographic in detail:
karan narula
(CA)
(43 Points)
Replied 22 November 2016
CAclubindia
