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Cash transaction

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PROPRIETOR
169 Points Posted on 29 May 2017
Please advise me, that one our client raised cash sale invoice more than of Rs 10000-00 in this month, according to finance act it is acceptable or not, i think the above rule is applied only on expenses. please advise me.
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On 29 May 2017 at 17:27 Report
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*****Accountant***** Never insult to a
1448 Points Posted on 29 May 2017

Yes you are correct.

Section 40A(3)- Limite Rs. 10,000/- -- Applicable on expenses.

Section 269st- Limite Rs. 1,99,999/- Applicable on receipts.

You are not fall under any penalty about on above query.

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On 29 May 2017 at 17:31


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