Cash receiving limit for the f.y. 2017-18
This query is : Resolved
Dinesh Singh
(Querist)
06 April 2017
Dear Experts,
Kindly let me know what is the cash receiving limit for the F.Y. 2017-18.
Regards
Kindly let me know what is the cash receiving limit for the F.Y. 2017-18.
Regards
CA Gopal Somani
(Expert)
06 April 2017
Its 2 Lakhs as per 269ST
No person shall receive an amount of Two lakh rupees or more—
(a) in aggregate from a person in a day; or
(b) in respect of a single transaction; or
(c) in respect of transactions relating to one event or occasion from a person, otherwise than by an account payee cheque or an account payee bank draft or use of electronic clearing system through a bank account:
No person shall receive an amount of Two lakh rupees or more—
(a) in aggregate from a person in a day; or
(b) in respect of a single transaction; or
(c) in respect of transactions relating to one event or occasion from a person, otherwise than by an account payee cheque or an account payee bank draft or use of electronic clearing system through a bank account:
Dinesh Singh
(Querist)
06 April 2017
Thanks for your kind & prompt response.
Could you please let me know that is there any threshold limit of Cash Receive for a year? i.e. how much cash can be received during the year from a particular person in respect of sale.
Regards
Could you please let me know that is there any threshold limit of Cash Receive for a year? i.e. how much cash can be received during the year from a particular person in respect of sale.
Regards
CA Gopal Somani
(Expert)
06 April 2017
Please check the below link more more detail
https://www.taxmann.com/topstories/105010000000014299/section-269st-the-impact-analysis.aspx
https://www.taxmann.com/topstories/105010000000014299/section-269st-the-impact-analysis.aspx
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