CASH PAYMENT DURING THE YEAR
Kamlesh Tolani (accountant) (563 Points)
28 September 2019
HOWMAY CASH PAYMENT ALLOWD SINGLE PERSON DURING THE YEAR
2 Replies
Pawan Vemula
(284 Points)
Replied 28 September 2019
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.
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.
Kapadia Pravin
(17264 Points)
Replied 28 September 2019
Under 269ST - cash transaction upto 2 lakhs
Under business & profession- -- expense payment in cash upto 10000/-
Under business & profession- -- expense payment in cash upto 10000/-
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