Cash mode limit for money lending business

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B.com
20 Points Posted on 04 May 2021
Sec 44ad it return filed money lending business person money amount pay to customers any limit of cash mode allowed in it act.
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On 04 May 2021 at 12:33 Report
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This discussion clarifies the cash payment limits for money lending businesses operating under Section 44AD of the Income Tax Act. It confirms that cash payments to customers are restricted to a maximum of ₹10,000 per day, primarily governed by Section 40(A)(3) of the Act, rather than Section 269.

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Chartered Accountant
20 Points Posted on 04 May 2021
Cash can be paid not more than 10000 rupees in a single day u/s 269
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On 04 May 2021 at 12:43
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Practice
20 Points Posted on 04 May 2021
Not exceeding 10000/- but not under section 269 but 40(A)(3) in my opinion
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On 04 May 2021 at 19:12
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Chartered Accountant
20 Points Posted on 04 May 2021
Yes 40(A)(3)
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On 04 May 2021 at 19:45
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Practice
20 Points Posted on 04 May 2021
Correct
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On 04 May 2021 at 19:55
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Chartered Accountant
20 Points Posted on 04 May 2021
Yes you're right
1 Reply
On 04 May 2021 at 22:08

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