CASH RECEIPT MORE THAN RS. 2 LAKHS 269ST
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02 October 2023
Dear Experts,
I have made debit sale of Rs. 3,50,000/- on 20.09.2023 to a person against which I purchased old goods worth Rs. 50,000/- from him. He paid remaining Rs. 1,50,000/- in cash and Rs. 1,50,000/- through NEFT on 24.09.2023 and thus on 24.09.2023 his account is settled in my books of accounts.
Now can I again sale him goods worth Rs. 75,000/- on 02/10/2023 and received cash against the same bill?
Thanking You
Nirmal Dave
I have made debit sale of Rs. 3,50,000/- on 20.09.2023 to a person against which I purchased old goods worth Rs. 50,000/- from him. He paid remaining Rs. 1,50,000/- in cash and Rs. 1,50,000/- through NEFT on 24.09.2023 and thus on 24.09.2023 his account is settled in my books of accounts.
Now can I again sale him goods worth Rs. 75,000/- on 02/10/2023 and received cash against the same bill?
Thanking You
Nirmal Dave
02 October 2023
Yes, it's an another sale.
02 October 2023
Thank You Sir.
One More Query:
Do I need to file SFT form 61A for the above mentioned transaction?
One More Query:
Do I need to file SFT form 61A for the above mentioned transaction?
02 October 2023
No need as cash receipt less than 2 lacs.
03 October 2023
Sir, Such Cash transaction limit is to be seen transaction wise or yearly basis for applicability of Form 61A. As in above case cash receipt is Rs. 2,25,000 (Rs. 1,50,000+Rs. 75,000) in a Year.
03 October 2023
It's not based on year.
It's based on each sale.
It's based on each sale.
03 October 2023
Thank You Sir for your valuable advise.
03 October 2023
You are welcome...
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