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Cash receipt of rent

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ARUN GUPTA (Querist)
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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?

Dhirajlal Rambhia online

Dhirajlal Rambhia online

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

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

Dhirajlal Rambhia online

Dhirajlal Rambhia online

(Expert)
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04 July 2024 Anything below Rs. 2 lakhs per annum.

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

Dhirajlal Rambhia online

Dhirajlal Rambhia online

(Expert)
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06 July 2024 Yes, but the limit is per annum

Dhirajlal Rambhia online

Dhirajlal Rambhia online

(Expert)
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28 August 2024 Good luck.

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