What is cash transaction limit for FY 2020-21 for du 2020-21
Replies (3)
Quick Summary
This discussion clarifies the cash transaction limits applicable for the Financial Year 2020-21, particularly under Section 269ST. For sellers, the limit under Section 269ST is ₹2 lakhs. Additionally, limits for payers regarding revenue and capital expenditure are ₹10,000 under Sections 40A(3) and 43 respectively. The discussion also notes limits of ₹20,000 under Sections 269SS and 269T for loans or transfers.
Under section 269ST - 2 LAKHS (APPLICABLE SELLER) under section 40A(3) - 10000 (applicable to payer in respect of revenue expenditure) second proviso to section 43 - 10000 (applicable to payer in respect of capital expenditure) under section 269ss - 20000 (applicable to borrower of loan or seller in case of transfer) under section 269t - 20000 (applicable to borrower of loan while repayment of loan)
Leave a Reply
Your are not logged in . Please login to post replies