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Cash transaction more than 10000/-

Anoop Jain   28 February 2021

Anoop Jain

 36 points

| My Other Post
Dear sir

I have milk business. Each of my customers is billed more than 12000/- can I get more than Rs 10000/- in cash in a day from each customers.

Best regards

Anoop Jain

Sourav (Student)     28 February 2021

 512 likes  8397 points

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You should ask your customers to provide cheque payment
anil jain

anil jain (Partner)     02 March 2021

anil jain
 31 likes  720 points

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Yes, you can accept, restriction is on expenditure not receipt up to  200000.

Anil Rawat

Anil Rawat (Manager Accounts & Taxation)     02 March 2021

Anil Rawat
Manager Accounts & Taxation 
 3 likes  63 points

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No person shall receive an amount of Rs 2,00,000 or more in aggregate from a person in a day, or in respect of a single transaction, or in respect of transactions relating to one event or occasion from a person, otherwise by an account payee cheque or an account payer bank draft or use of electronic clearing system through a bank account.

Accordingly, if you receive 12000 on daily basis then there is no issue as per my understanding.


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