Accounts
This query is : Resolved
26 March 2017
hello sir,
we are having a small firm of proprietorship. we are labour job provider
we are getting payment mostly in cash.
so what can i do for f.y.2017-18 their is restriction on 2lacs above cash.
2) secondly i want to know that this is limit of 2 lacs cash restriction is for what deposit in bank or receiveing from customer.
please reply soon,
we are having a small firm of proprietorship. we are labour job provider
we are getting payment mostly in cash.
so what can i do for f.y.2017-18 their is restriction on 2lacs above cash.
2) secondly i want to know that this is limit of 2 lacs cash restriction is for what deposit in bank or receiveing from customer.
please reply soon,
24 October 2021
With effective from 1st April, 2017, no person shall receive an amount of Rs 2 Lakh or more;
(A) in aggregate from a person in a day (or)
(B) in respect of a single transaction (or)
(C) in respect of transactions relating to one event or occasion from a person.
(A) in aggregate from a person in a day (or)
(B) in respect of a single transaction (or)
(C) in respect of transactions relating to one event or occasion from a person.
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