Cash to sub contractors
This query is : Resolved
21 December 2021
I want to know whether sub contractors can get receipts in cash and can they show those receipts in 44AD
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.
Otherwise no query under presumptive assessment.
21 December 2021
Thanks , so if I show cash receipts of Rs.15 lakhs from different parties under 44AD, is that fine ..
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.
21 December 2021
Most Welcome..
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