cash received against tax invoice
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 February 2011
Sir/Madam
Can i received 100000 rs. of invoice in 5 time 20000 rs. payment by our party
Can i received 100000 rs. of invoice in 5 time 20000 rs. payment by our party
01 February 2011
If it is cash invoice. Full payment can be received against each invoice. If it is credit invoice, the problem may arise but there is no bar under income Tax to recive payment in cash.
Section 40A(3) applies to payer only
Section 40A(3) applies to payer only
Guest
Guest
(Expert)
01 February 2011
Agree with Mr. Suneel.
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