C ash payments
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2012
Can cash above Rs 20000 be paid in a single day to a person as advance against property booking?
08 September 2012
Cash payment i.e section 40A(3) will not attract for purchase of fixed assets. However it will not attract for advance payments.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
08 September 2012
Agreed with the reply
07 October 2021
From FY 2016, u/s. 269SS, seller cannot accept the cash amount in cash.
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