Cash transetion year 2017-2018

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Querist : Anonymous

Querist : Anonymous (Querist)

05 April 2017 my client automobile dealer ,we sold two wheelers by cash but after Govt introduce new coloum finance act year 2017-2018 limit 200000/-
now sir my question how can he will sale vehicle, maxim customer buying by cash price of 50000 to 60000 onward. now my dealer expect full amt cash or partly or by cheque/online
please sir give a solution for above quaery

Amol S Joglekar

Amol S Joglekar (Expert)
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05 April 2017 50 thousand or 60 thousand should not be a problem as per the new provisions.....Please clarify your doubt.

Querist : Anonymous

Querist : Anonymous (Querist)

06 April 2017 he will selling vehicle by cash ? (each vehicle price 55000 to 60000 )

Amol S Joglekar

Amol S Joglekar (Expert)
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07 April 2017 for each sale INR200,000 limit is specified. So what is your problem?

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