Cash transaction

273 views
User Avatar

1 Points Posted on 07 May 2019
For a purchase of Rs 4.5 lakh from an unregistered person. Can I pay Rs 3 lakh in cheque and 1.5 lakh in cash or I have to pay entire amount in cheque
0 Reply Share Follow
On 07 May 2019 at 16:38 Report
Replies (3)
User Avatar

7 Points Posted on 07 May 2019
excess of ten thousand should not allowed by income tax act. so you have to pay in cheque
Reply
On 07 May 2019 at 16:56
User Avatar

"Do the Right Thing...!!!"
128162 Points Posted on 07 May 2019
Originally posted by : pankil gupta
For a purchase of Rs 4.5 lakh from an unregistered person. Can I pay Rs 3 lakh in cheque and 1.5 lakh in cash or I have to pay entire amount in cheque

 

No...

Reply
On 07 May 2019 at 19:42
User Avatar

1234 Points Posted on 07 May 2019
kindly refer 40(a)(3) for further details
Reply
On 07 May 2019 at 20:50

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. PCIT-1 Thane Email address
  2. CA Fees deduction for non audit case allowed?
  3. 5th Letter PAN Mismatch with Surname issues still
  4. Criteria to hire an article
  5. Guidence requested for a Finance Professional with
  6. Expert Opinion Required – Form 140 Gross Amo
  7. WRONG TAX DEMAND - formal responses , rectificatio
  8. Foreign remittance
  9. Affordable Residential Flats in Gurgaon
  10. Manufacturing

More recent discussions | Post

Related Topics :

Loading