Cash at hand
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 August 2013
dear friends
Is there any limit for cash at hand imposed by I T rules in India.What if I show 2-3 lakhs as cash at hand as a self employed professional.Any penalties, rewpercussions, disallowance etc.Kindly elucidate.
THanks
Is there any limit for cash at hand imposed by I T rules in India.What if I show 2-3 lakhs as cash at hand as a self employed professional.Any penalties, rewpercussions, disallowance etc.Kindly elucidate.
THanks
CA UMESH DULAL
(Expert)
19 August 2013
There is no rule in IT Act which fix the limit of cash in hand.
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