Cash to sub contractors

This query is : Resolved

pooja (Querist)
Follow

21 December 2021 I want to know whether sub contractors can get receipts in cash and can they show those receipts in 44AD

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

21 December 2021 As per sec. 269ST, from any one party/bill/event cannot accept Rs. 2 lakhs or more in cash mode.
Otherwise no query under presumptive assessment.

pooja

pooja (Querist)
Follow

21 December 2021 Thanks , so if I show cash receipts of Rs.15 lakhs from different parties under 44AD, is that fine ..

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

21 December 2021 Yes, but take care receipt from non of the party is equal or exceed Rs. 2 lakhs, for the same contract in the FY.

pooja

pooja (Querist)
Follow

21 December 2021 Yes...yes...I will take care of that..thanks a lot

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

21 December 2021 Most Welcome..

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

santhosh singireddy

SHIBSANKAR DEY

CA.Gopal Rathi

RAKESH KUMAR

Sasidhar B

Subscribe Now

Cash to sub contractors

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

Senior Executive

Audit Assistant / Article Trainee / Intern

ICSI Trainees for 21 Months and Semi-Qualified CS

Chartered Accountant

Accounts Executive

CA Dropout

Experience Audit Manager