Cash payment more than rs.20000/- per day
This query is : Resolved
09 July 2013
Hi!
I have a grocery store.
Can i make cash purchase of any agricultural product like wheat, bajri, moong of more than Rs.20000/- in one transaction at a same day?
As much i read, is it allowed under rule 6dd?
I have a grocery store.
Can i make cash purchase of any agricultural product like wheat, bajri, moong of more than Rs.20000/- in one transaction at a same day?
As much i read, is it allowed under rule 6dd?
09 July 2013
Yes allowed as it is a purchase of agricultural product.
See below link--
http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2001ITAct/rules2001/rules006dd.htm
See below link--
http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2001ITAct/rules2001/rules006dd.htm
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