assessess maintained a private hospital.advances fees cash receipts from patients.
question:
advance fees from patients cash mode limit per day (rs:2 lacs or rs:10,000/-)
Menu
Advance fees cash receipts from patients limit per day
Replies (5)
As per section 269ST 2 lakh is the max limit u can take from a patient in one financial year. there is no such per day limit. u have to see per financial year basis.
Sec 269 ST APPLIES FOR RESTRICTIONS PAYMENTS IN CASH EXPENDITURE.
IF IT IS MADE IN ACCOUNT PAYEE CHEQUE IT IS POSSIBLE.
IF IT IS MADE IN ACCOUNT PAYEE CHEQUE IT IS POSSIBLE.
Sec 269ST speaks abt receipt in cash not expenditure. moreover eletronic mode and account payee cheque is allowed.
section is given below
'269ST. Mode of undertaking transactions.—No person shall receive an amount of two lakh rupees or more—
| (a) | in aggregate from a person in a day; or | |
| (b) | in respect of a single transaction; or | |
| (c) | in respect of transactions relating to one event or occasion from a person, |
otherwise than by an account payee cheque or an account payee bank draft or use of electronic clearing system through a bank account:
Therefor considering clause c, limit must be construed for a patient being an event.
Let's give the detailed section
sec 269ST DEALS CASH RECEIPT.
Sec 40(A) 3 MENTIONS EXPENDITURE IN CASH.LIMITS
sec 269ST DEALS CASH RECEIPT.
Sec 40(A) 3 MENTIONS EXPENDITURE IN CASH.LIMITS
Recent Threads
- A Comprehensive Guide to Modern Digital Marketing
- Income tax status
- Demand raised for 'Self assessment tax' amount AY2
- TDS payment using Form 26QB when buying property o
- Export sales not realised payment not received fro
- RCM related queries
- Negative Export Value in GSTR 3B
- Income tax intimation -AY 24-25
- Tax Implications of Alumni Union (R) under Society
- Heard & Seen Around – Your Daily Economi
Related Threads
CAclubindia
