Cash reciept
Ravi Berlia (15 Points)
26 June 2017Ravi Berlia (15 Points)
26 June 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160322 Points)
Replied 26 June 2017
No penalty, but account each bills separately and match each receipt with the bills individually.
Poltu Ghosh
(Job)
(1865 Points)
Replied 26 June 2017
Umesh V Naig
(Statutory Analyst)
(452 Points)
Replied 26 June 2017
INcome tax provision attracts penalty since a single or aggregate against sale.
9) What are the modes of receipt which are not allowed?
Some of the modes of receipt which are not allowed are cash, bearer cheque, crossed cheque, self cheque, adjustment or transfer entry in the books of account.
lso important to note that this limit on an occasion is not limited to per day basis therefore receipts even on various days in respect of a single event or occasion aggregating above Rs. 2 lacs is prohibited.
Read sec Section 269ST reads as follows"
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