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acceptance of more than Rs.20000/- in cash

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 August 2010 can we accept more than rs.20000/- in cash against our sales bill in a day?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
19 August 2010 Yes you can accept the same no problems for you.
Section 269SS is attracted on acceptance of any loan or deposit.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
19 August 2010 agreed, in case of cash sale , Section 269SS is not apply.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
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.
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
19 August 2010 Yes... cash in excess of Rs. 20000/- can be accepted against sale.
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PANKAJ KHURANA

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PANKAJ KHURANA (Expert)
19 August 2010 agreed, in case of cash sale , Section 269SS is not apply.
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