Sale bill
This query is : Resolved
Tejasvi gupta
(Querist)
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
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
(Expert)
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.
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
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.
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
Tejasvi gupta
(Querist)
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
(Expert)
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
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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