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Naveen Kumar   15 June 2021

Advance from Sundry debtor in Cash

Dear Sir

please suggest how much advance in cash mode we have received from sundry debtor in a single day.

 3 Replies

Ankit Neema

Ankit Neema   15 June 2021

Upto Rs. 2 lakh for a single transaction or event, but opposite party I.e.purchasing party has limit upto Rs. 20K , otherwise their expenses will be disallowed.
1 Like

Sourav (Student)     16 June 2021

Upto 2 lakhs rupees in a single day in a single transaction
CMA Poornima Madhava

CMA Poornima Madhava (CMA)     16 June 2021

Cash receipts LESS THAN Rs.2 lacs in a day or in respect of a single transaction/event is allowable. But for the payer, this limit would be 10k at present.

1 Like

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