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Cash sales

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(Querist)
17 January 2017 In a trading concern all purchases, made cheques. But all sales made by cash. Each sales invoice having value around Rupees 1lac to 1.50 lac. what will be impact, during the income tax scrutiny.
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CA Suresh Jain

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CA Suresh Jain (Expert)
17 January 2017 By Selling in cash, you have not contravened any law. To be safe side take PAN number of the person where sale is 2lakh or above.
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SIVAKUMAR

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SIVAKUMAR (Querist)
18 January 2017 thank you sir
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