Advance from Sundry debtor in Cash

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629 Points Posted on 15 June 2021
Dear Sir

please suggest how much advance in cash mode we have received from sundry debtor in a single day.
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On 15 June 2021 at 21:56 Report
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This discussion clarifies the limits on receiving cash advances from sundry debtors. Generally, cash receipts up to £2 lakh per day or per transaction are permissible. However, for the payer, there's a stricter limit of £10k, beyond which their expenses may be disallowed.

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2742 Points Posted on 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.
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On 15 June 2021 at 22:41
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Chartered Accountant
24588 Points Posted on 16 June 2021
Upto 2 lakhs rupees in a single day in a single transaction
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On 16 June 2021 at 09:06
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CMA
13117 Points Posted on 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.

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On 16 June 2021 at 14:37

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