Cash received more than rs 20000/-

Yes, you can receive cash of any amount but it is advisable to receive cheques if ami\ount is bigger.

Yes you can receive 20,000 or more than that in cash, but it is advisable to receive in form of cheque or through electronic mode.

Just to add that receipt of amount > 20K is prohibited for loans , not for business/trading receipts.

Regards,

Yes, you can receive any amt of trading receipt in cash.

Cash can be received since its for trading purpose

Hi Rohit...

The restriction/implication is for the person making the payment. As per Section 40A(3) payments in excess of Rs.20,000/- would not be allowable as deducting for computation of Total Income. Recipient has no implication.

u can receive any amount in cadh.  No problem..................

Receipt has no obligation....... Any amount of cash received is allowed............. Only on payment certain sections comes into action!!!!!!!!!!!! 

yes, you can receive any amount in cash for selling the ticket, no problem