cash receipt
This query is : Resolved
18 March 2010
Whether any provision of income tax Act prohibits the cash receipt from debtor exceeding rs. 20000?
18 March 2010
No such prohibition on receipt.
But if any payment is to be made exceeding Rs.20000 then it should be given in the form of account payee cheque/ account payee demand draft.
But if any payment is to be made exceeding Rs.20000 then it should be given in the form of account payee cheque/ account payee demand draft.
18 March 2010
No
18 March 2010
No such provision
18 March 2010
agree with expert
18 March 2010
no such provision
18 March 2010
No provision with this regard.
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