banner_ad

Cash receipt above rs. 2 laks

350 views 3 replies
User Avatar

Accounts and finance
25 Points Posted on 04 July 2017
cash receipt above Rs. 2 laks for single event ,from multiple persons is penalty apllicable?
Reply Share Follow
On 04 July 2017 at 16:03 Report
Replies (3)
User Avatar

Accounts and finance
25 Points Posted on 04 July 2017

Can any once suggest on this 

Reply
On 04 July 2017 at 16:20
User Avatar

accountant
953 Points Posted on 04 July 2017
no penalty on cash receipts more than 2 lakh, but you will have to quote PAN of customer on invoice
abd report this transaction to annual SFT report.
if you fail to do this, you will have to pay penalty

and you should not report receipt from multiple persons rs 200000
1 Reply
On 04 July 2017 at 16:23
User Avatar

Accounts and finance
25 Points Posted on 04 July 2017

Dear Rocky What about the section 269ST and section 271DA

Reply
On 04 July 2017 at 17:25


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details