Cash transaction limit

This discussion clarifies the Income Tax Act's cash transaction limit, stating that payments exceeding £10,000 in cash are generally not allowed, with exceptions under Rule 6DD. It explains that a client depositing £1,05,000 directly into your bank account is treated as a bank receipt, not a cash transaction. The query then explores whether accepting an additional £1,00,000 cash from the same client, bringing the total to £2,05,000, is permissible under these rules.