Sale bill

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Tejasvi gupta (Querist)
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06 April 2016 Hello

How much amount of cash retail bill without any name can be drawn? I mean to say , can I draw retail bill just writing "cash" in the name of any amount? Please reply

CA ANKIT GUPTA

CA ANKIT GUPTA (Expert)
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12 April 2016 Tejasvi

You can issue retail invoice of any amount in cash as per DVAT Act 2004

But in accordance with the provisions of Income Tax Act'1961
The maximum amount of aggregate payment that an assessee can make in a day otherwise that Account payee cheque / Demand draft is Rs.20,000
Otherwise any expenditure incurred in excess of Rs.20,000 would not be allowed as expense.

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Ankit Gupta
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(Email) - ankit@emunshe.com

Tejasvi gupta

Tejasvi gupta (Querist)
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12 April 2016 Thank you for your suggestion. But we are receiving amount so I think there will not be any disallowance!. Am I right?

CA ANKIT GUPTA

CA ANKIT GUPTA (Expert)
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12 April 2016 Tejasvi

You are absolutely right.
My point of suggestion isfor the person making payment who is buyer(purchaser) in your case

For DVAT Registration-Filing-Consultancy

Feel free to reach us at www.emunshe.com
Ankit Gupta
Founder Member
(Call/Whatsapp) - 9811985576
(Email) - ankit@emunshe.com

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