CASH RECEIPT MORE THAN RS. 2 LAKHS 269ST

This query is : Resolved

NIRMAL DAVE (Querist)
Follow

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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

02 October 2023 Yes, it's an another sale.

NIRMAL DAVE

NIRMAL DAVE (Querist)
Follow

02 October 2023 Thank You Sir.

One More Query:
Do I need to file SFT form 61A for the above mentioned transaction?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

02 October 2023 No need as cash receipt less than 2 lacs.

NIRMAL DAVE

NIRMAL DAVE (Querist)
Follow

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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

03 October 2023 It's not based on year.
It's based on each sale.

NIRMAL DAVE

NIRMAL DAVE (Querist)
Follow

03 October 2023 Thank You Sir for your valuable advise.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

03 October 2023 You are welcome...
....

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA.Gopal Rathi

S J MITRA

CA Sunny Sharma

Moby Mogli

Vimlesh kumar

Subscribe Now

CASH RECEIPT MORE THAN RS. 2 LAKHS 269ST

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

Article Assistant

CA Final

GST CONSULTANCY

GST CONSULTANT

Manager- Finance and Compliance