cash paymemt

This query is : Resolved

DHARMEMDER (Querist)
Follow

26 August 2017 Dear all, One cloth trader has make a bill of Rs 100000/- Can we pay this amount in cash in a single day....? should this transaction covered section 269st..?

RAJA P M

RAJA P M (Expert)
Follow

26 August 2017 You can't pay cash above 10k as per income tax act.... 269st is applicable for receipt of cash above 2lakhs....

DHARMEMDER

DHARMEMDER (Querist)
Follow

28 August 2017 sir If anybody can receive a cash of Rs

DHARMEMDER

DHARMEMDER (Querist)
Follow

28 August 2017 Sir If anybody can receive a cash upto Rs 2 lac. Than why we cannot pay Rs 100000/- on purchase.

RAJA P M

RAJA P M (Expert)
Follow

28 August 2017 You can receive Cash less than 2 lakhs. You don't fall under 269ST. But, The giver is also fall u/s 40A(3A).
The same You give 10000 to less than 2 lakhs you fall u/s 40A(3A)...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SHUBHANGI GOEL

Shailesh Prajapati

Adesh Mahajan

Angadi & Co

Jaipal Singh

Subscribe Now

cash paymemt

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

GST CONSULTANCY

Accountant

Article Assistant

GST CONSULTANT

CA Final