Cash sales
This query is : Resolved
Harshit Jain
(Querist)
07 September 2015
Whether a manufacturing firm being audited u/s 44AD can do cash sales exceeding Rs20000 of any goods or not as per income tax act.Whether a firm can receive cashbexveeding Rs.20000 at one time?
07 September 2015
There is no restriction on cash sales as such. You can sell goods and receive cash. Under the income tax there is restriction only on payment of cash
Amol S Joglekar
(Expert)
07 September 2015
yes, you can very receive cash on sales exceeding 20,000
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