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269ss penalty attract or not

This query is : Resolved 
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(Querist)
02 December 2016 my client is retailer and his business depend totally cash sales. i want to know if my client is raised bill above 20000 cash sales. is there any problem......

whether section 269ss is attract or not...

whtether it is raised bill above 20000 cash sales...no problem for the purpose income tax..?
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CA Suresh Jain

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CA Suresh Jain (Expert)
03 December 2016 Section 269SS is not applicable to amount received in cash from Cash Sales. It is applicable only for taking or accepting certain loans and deposits
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