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:
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.
CAclubindia
