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Cash Receipt above Rs. 20,000/-

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 January 2010 Dear Sir,

We wish to clarify that can our customer deposit Rs.3,00,000/- in our company's bank account against our pending invocie.

OR
can we receipt Cash in same case.

Please clarify the matter

Regards,

Ram Narayan
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Heera Nahariya

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Heera Nahariya (Expert)
04 January 2010 you can receive any amount in cash against sales/services made.

Section 40A(3) and Rule 6DD is in respect of cash payment made, not in respect of cash receipts.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
06 January 2010 YES, You can receive no problem
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