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Cash limit to purchase property
Dear Sir, what is the limit of cash payment for purchase of immovable property
Replies (2)
As per section 40(A) 3 , maximum limit is rs 20000
@ Tarun
Section 269ST in the Income Tax Act bans such transactions in cash amounting to Rs 2 lakh or more on a single day, in respect of a single transaction or transactions relating to one event or occasion from an individual
@ Saikumar
I think 40(A)(3) is only for business revenue expenditure .
Section 269ST in the Income Tax Act bans such transactions in cash amounting to Rs 2 lakh or more on a single day, in respect of a single transaction or transactions relating to one event or occasion from an individual
@ Saikumar
I think 40(A)(3) is only for business revenue expenditure .
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