Cash transaction

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Ashvin (Querist)
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12 November 2014 Can u please guide me about the cash transaction ? What is the limit of cash receipt & payment.

In case if we receive cash more than 1Lac is there any tax implication similarly for payment of cash more than 1Lac?

Please explain in detail

Thanks

Vinod

Nikhil Kaushik

Nikhil Kaushik (Expert)
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12 November 2014 no limit of cash sales. however, for expenses each expenses in cash in excess of Rs 20000 is disallowed.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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12 November 2014 no limit of cash sales. however, for expenses each expenses in cash in excess of Rs 20000 is disallowed.

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