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Cash transaction
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.
Replies (1)
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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