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