Office Rent Income
This query is : Resolved
Quick Summary
22 June 2021
I have received Rs.58000/- Office Rent Income for the one Month by Cash.
How to accounting this entry.
Is it legit in Transaction ???
How to accounting this entry.
Is it legit in Transaction ???
22 June 2021
Yes, it's legal in transaction. Account it as cash receipt.
22 June 2021
Cash receipts <2 lacs will not attract violation of provisions of sec 269ST. So you may receive cash in this case. However, such expense would be disallowed for the payer as per section 40A(3).
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