Notification no. 27/2011 dated 26/05/2011
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 August 2011
whether Limit of Rs.500000/- is applicable to only one transaction Or for whole year (i.e More than one transaction during the year exceeds total of 500000/- but individual transaction does not exceeds 500000/-) What is Applicable One transaction limit or limit for the whole year?
07 August 2011
The language used is "bill of Rs. 500000." So it should obviously be a single transaction.
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