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Cash payments to partners

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Mahabir Prasad Agarwal

Mahabir Prasad Agarwal (Querist)
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18 August 2021 In a partnership firm, whether a partner can receive and pay any amount of cash. Is there any limit on cash transaction for partner ? The firm is to be audited .

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 August 2021 The limit is less than 2 lacs.

Mahabir Prasad Agarwal

Mahabir Prasad Agarwal (Querist)
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18 August 2021 Less than 2.00 lac in a single day ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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18 August 2021 It's not per day limit event based limit.

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