Cash receipt of rent

This query is : Resolved 
Quick Summary
You're asking about receiving rent payments in cash and potential Income Tax implications. While cash receipts are permitted up to a certain limit per annum, it's generally advised to accept rent via banking channels. This also allows for TDS deductions, ensuring compliance with tax regulations.

Profile Image

Profile Image

(Querist)
04 July 2024 I have given a godown on rent to a party.The party wants to give Rs33000/ rent in cash to me every month. Can I take rent in cash without any issues from income tax? Please clarify?
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
04 July 2024 No. Take it by banking channel. Ask him to deduct TDS.
Profile Image

ARUN GUPTA

Profile Image

ARUN GUPTA (Querist)
04 July 2024 How much cash receipt is permitted in income tax laws?
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
04 July 2024 Anything below Rs. 2 lakhs per annum.
Profile Image

ARUN GUPTA

Profile Image

ARUN GUPTA (Querist)
06 July 2024 Below Rs200000/ means upto Rs199000/ we can receive cash
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
06 July 2024 Yes, but the limit is per annum
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
28 August 2024 Good luck.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries


Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Pro Member vinayvinayPro Member Chnmaya parhiChnmaya parhiPro Member Sabareesan S VenkateshSabareesan S VenkateshPro Member Lalan Kumar JhaLalan Kumar JhaPro Member ACCFIN SOLUTIONSACCFIN SOLUTIONS
Subscribe to Pro
Join an elite circle of professionals



Answer Query



Quick Links



Browse by Category