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C ash payments

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Querist : Anonymous

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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?
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
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
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SANYAM ARORA

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SANYAM ARORA (Expert)
08 September 2012 Agreed with the reply
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
07 October 2021 From FY 2016, u/s. 269SS, seller cannot accept the cash amount in cash.
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