acceptance of more than Rs.20000/- in cash
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 August 2010
can we accept more than rs.20000/- in cash against our sales bill in a day?
19 August 2010
Yes you can accept the same no problems for you.
Section 269SS is attracted on acceptance of any loan or deposit.
Section 269SS is attracted on acceptance of any loan or deposit.
19 August 2010
agreed, in case of cash sale , Section 269SS is not apply.
19 August 2010
The person who are purchasing in cash more than 20000 against a single bill , will be diallowed expenses u/s 40A(3) subject to exception rule 6DD.
19 August 2010
Yes... cash in excess of Rs. 20000/- can be accepted against sale.
PANKAJ KHURANA
(Expert)
19 August 2010
agreed, in case of cash sale , Section 269SS is not apply.
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