cash paymemt
This query is : Resolved
DHARMEMDER
(Querist)
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..?
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
(Querist)
28 August 2017
sir
If anybody can receive a cash of Rs
DHARMEMDER
(Querist)
28 August 2017
Sir
If anybody can receive a cash upto Rs 2 lac.
Than why we cannot pay Rs 100000/- on purchase.
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)...
The same You give 10000 to less than 2 lakhs you fall u/s 40A(3A)...
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