Cash sales amount allow or disallow
This query is : Resolved
04 September 2012
Dear sir,
Please tell me cash sales amounts we received more than 20,000 limit it is allowed or disallowed under income tax system suppose we received 86500/- amount against sales by a single person.
Regards
Ramesha.m
Please tell me cash sales amounts we received more than 20,000 limit it is allowed or disallowed under income tax system suppose we received 86500/- amount against sales by a single person.
Regards
Ramesha.m
Guest
Guest
(Expert)
04 September 2012
The disallowance u/s 40 A 3 is for expenses paid and not for income accounted. In the above case the disallowance will be made in books of the person making the payment.
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10 October 2021
No problem for seller to receive the amount.
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