Cash sale during the period of 09.11.2016 to 30.12.2016
This query is : Resolved
14 November 2016
Can it possible for a firm to sale in cash deno. 500 and 1000 inr during the above said period and treated as sale of 08.11.2016 and deposit the sale value into the current account. What is the impact on IT.
14 November 2016
No, Rs.500 & Rs.1000/- is not a legal tender Money , So it is not advisable to Show Cash sales of older Denomination after 08/011/2016 of Rs.500 & Rs.1000/-except Hospitals ,Petrol Bunks as notified by Central Government.
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