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Cash payment limit in audit
what is the maximum cash payment limit for one party in a financial year in audit case
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Maximum cash payment limit is per one party per one day and it is Rs. 10,000/-. There is no restriction for one party in a financial year.
In case of loans and advances then 269SS and 269T applicable. In those cases you can't pay amount in cash, if the loan amount exceeds Rs. 20,000/-
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