Cash receipt limit
This query is : Resolved
Harikrishnan
(Querist)
17 October 2018
ABC Company Sold Packing Covers to XYZ Shop worth Rupees 2,50,000/- in a single Invoice.
XYZ Shop is not RESALE this Packing covers
Transaction of ABC Company is a SALES
Transaction of XYZ Shop is an EXPENSE
In Books of Accounts of ABC Company can enter Cash Receipt 2,50,000/- in a Single day & Single entry or Multiple Entry in Multiple Date.(Please note Cash Receipt Per day Limitation)
In Books of Accounts of XYZ Shop can enter Cash Payment 2,50,000/- in a Single day & Single entry or Multiple Entry in Multiple Date(Please note Cash Payment Per day Limitation)
PLEASE ANSWER THE SAME SITUATION FOR SALE VALUE 1,90,000/-
XYZ Shop is not RESALE this Packing covers
Transaction of ABC Company is a SALES
Transaction of XYZ Shop is an EXPENSE
In Books of Accounts of ABC Company can enter Cash Receipt 2,50,000/- in a Single day & Single entry or Multiple Entry in Multiple Date.(Please note Cash Receipt Per day Limitation)
In Books of Accounts of XYZ Shop can enter Cash Payment 2,50,000/- in a Single day & Single entry or Multiple Entry in Multiple Date(Please note Cash Payment Per day Limitation)
PLEASE ANSWER THE SAME SITUATION FOR SALE VALUE 1,90,000/-
CA R SEETHARAMAN
(Expert)
17 October 2018
Single invoice cash sales can't exceed 2 lacs either received on single day or on multiple days. Sale value of 1.90 lacs can be received in cash.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Form 144 TDS Return Validation error
- Applicability of tax on invoice
- Advances to related party
- Capital Gains Tax on Inherited Mutual Fund
- Employee secondment
- GSTR9 Annual Return
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
