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Cash transaction limit reg
Experts, What is the maximum limit to get the cash against sales invoice under Gst Act Or under Income Tax Act?
Replies (8)
Quick Summary
Before 2 lac against single invoice. also required Copy of pan card and aadhar card if invoice value 50 k or more then 50 k.
200000 rupees in cash can be received in a single day
I know that as per section 269ST, max cash receipts allowable is less than 2 lacs. But am not aware of requirement of pan/aadhar for purchase of >=50k.
In cash sale, purchase we have required to avoid fake sale , purchase.
Maximum Rs. 2L from a person in a day or against a single invoice or against a single event.
Thank you to all
Ur welcome
Your welcome
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