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Cash transactions allowed

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(Querist)
22 July 2021 Sir,
Sec 44ad it returns filed jewellery business and pawn brokeing business person money (loan)paid to customer rs:1 lacs through on cash mode.
Question:
1.money pay to customer rs:1 lacs cash mode allowed and cash transactions limit in it act.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
22 July 2021 Yes, it's Allowed, less than 2 lacs.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
23 July 2021 As per Sec 269T , you can't pay a sum more than Rs. 20000 in respect of loan.




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