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Cash received

This query is : Resolved 

08 November 2017 Sundry debtors cash deposit in our bank account against invoices & a/c so I can do received entry

08 November 2017 Yes you can. However, you need to have PAN copy of such debtors.

08 November 2017 Sir humne hamare nearist CA se consut kya tha to onhone hame ye advice diya ki Section 40A 3 kya kehta ki agar koi debtors agar aapke bank account me direct cash deposit karwata hai agar cash amount 10000 se above hai to aap direct party ko receipt nahi de sakte aap ko bank me cash deposit self kake party ko 10000 ki alag alag date me receipt batana padega

08 November 2017 Yes... Any one can deposit cash in your account. But, Not exceeding above 2lakhs

08 November 2017 40A(3) is regarding expenses you claim in your income tax return. However, Sales is not an expense.
Issue will be to the person who is depositing/paying cash amounting to above INR 10000.

08 November 2017 Yes... I agreed Sir...

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