Cash receipt of rent
This query is : Resolved
Quick Summary
ARUN GUPTA
(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?
Dhirajlal Rambhia
(Expert)
04 July 2024
No. Take it by banking channel. Ask him to deduct TDS.
ARUN GUPTA
(Querist)
04 July 2024
How much cash receipt is permitted in income tax laws?
Dhirajlal Rambhia
(Expert)
04 July 2024
Anything below Rs. 2 lakhs per annum.
ARUN GUPTA
(Querist)
06 July 2024
Below Rs200000/ means upto Rs199000/ we can receive cash
Dhirajlal Rambhia
(Expert)
06 July 2024
Yes, but the limit is per annum
Dhirajlal Rambhia
(Expert)
28 August 2024
Good luck.
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