UPI payments limit for one financial
This query is : Resolved
12 July 2022
Sir,
One of the cloth business person sales and purchases transaction amounts receipts and payments through on UPI mode receipts rs:25 lacs and payments rs:15 lacs one financial year savings bank and current account bank in f.y.21-22.
Question:
UPI mode receipts and payments transactions limit one financial year under it act for saving bank and current account.
2.a person it returns filed compulsory in f.y.21-22.
One of the cloth business person sales and purchases transaction amounts receipts and payments through on UPI mode receipts rs:25 lacs and payments rs:15 lacs one financial year savings bank and current account bank in f.y.21-22.
Question:
UPI mode receipts and payments transactions limit one financial year under it act for saving bank and current account.
2.a person it returns filed compulsory in f.y.21-22.
12 July 2022
1. No limit under IT act
2. Yes, unless the gross total income is below exemption limit.
2. Yes, unless the gross total income is below exemption limit.
Message likes :
1 times
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- TDS Deducted AY-2013-14 Not Reflected in 26as
- ADVANCE PAYMENT OF ADVOCATE
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Eway bill generation from place other than registeted
- Goods sold but invoice not issued
- GST rate and HSN code for sale of racing horses
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- 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
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
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
