Cash acceptence eligible
This query is : Resolved
25 July 2014
Hi my client ( company registered under companies act) They are into real estate & builders. they have accepted cash for the sale of flat. the customer has paid 8 lakhs every month and they have shown in their books account. is it acceptable under income tax act to accept cash?
Nikhil Kaushik
(Expert)
26 July 2014
receipt of sale consideration in cash is permitted without any limit as long as you record it properly
29 July 2014
there is no provision expressly restricting the same...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Under marginal scheme
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Import of Software Service.
- TDS on Fixed Assets purchased
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Capitalgain tax purposes for valuation report compulsory
- TAX AUDIT ON PROFESSIONAL INCOME
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
