Cash transactions allowed
This query is : Open
Quick Summary
Kollipara Sundaraiah
(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.
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.
CA R SEETHARAMAN
(Expert)
22 July 2021
Yes, it's Allowed, less than 2 lacs.
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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