Cash receiving limit for the f.y. 2017-18

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Dinesh Singh

Dinesh Singh (Querist)
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06 April 2017 Dear Experts,

Kindly let me know what is the cash receiving limit for the F.Y. 2017-18.

Regards

CA Gopal Somani

CA Gopal Somani (Expert)
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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:

Dinesh Singh

Dinesh Singh (Querist)
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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

CA Gopal Somani

CA Gopal Somani (Expert)
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06 April 2017 Please check the below link more more detail

https://www.taxmann.com/topstories/105010000000014299/section-269st-the-impact-analysis.aspx

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