Sales of Rs 2 lakhs
This query is : Resolved
Quick Summary
07 June 2021
Can I make cash sales of Rs2 lakhs? The buyer is not giving pan no. Can we make cash sales? Pl advise urgently?
07 June 2021
You can make cash sales Rs 1,99,999, less than 2 lacs.
07 June 2021
No. If you do,it is a violation of section 269ST of the Income tax Act,1961.
07 June 2021
Which reply is correct?
07 June 2021
What is section 269ST of IT act?
07 June 2021
269st section relates to penal provision for cash transaction of 200000 and above.
07 June 2021
Both the replies are correct. Any cash receipt of >=Rs.2 lacs violates provisions of section 269ST. Read 269ST for more details.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Gift Received from nonblood relative
- Reprocessing of rectification order AY 2025-26
- Section 50-fixed asset-->building ceases to exist
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Regime change
- Consolidated financials
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
