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?
CA Anil Kumar Tadaka
(Expert)
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
CA CHINTAN AJMERA
(Expert)
18 March 2010
No such provision
CA Ashok Kumar Sahu
(Expert)
18 March 2010
agree with expert
CMA Ramesh Krishnan
(Expert)
18 March 2010
no such provision
CA Ravi Sisodia
(Expert)
18 March 2010
No provision with this regard.
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