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Cash sales
Whether a manufacturing firm being audited u/s 44AD can do cash sales exceeding Rs20000 of any goods or not as per income tax act.Whether a firm can receive cashbexveeding Rs.20000 at one time?
Replies (1)
Firm can receive cash exceeding 20000 and also can make a sale above 20000.
As Rs. 20000 limit is for payments only, not for receipts.
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