CASH PAYMENT DURING THE YEAR

As Per Income Tax Act. No Person Shall Give Cash Above 10000

In In aggregate from a person in a day; or

In respect of a single transaction; or

In respect of transactions relating to one event or occasion from a person.

Section 269ST of Income Tax Act provides that no person can receive an amount of INR 2 Lakhs or more in cash:

In aggregate from a person in a day;

In respect of a single transaction; or

In respect of transactions relating to one event or occasion from a person.

Under 269ST - cash transaction upto 2 lakhs

Under business & profession- -- expense payment in cash upto 10000/-