Dear sir
I have milk business. Each of my customers is billed more than 12000/- daily.so can I get more than Rs 10000/- in cash in a day from each customers.
Best regards
Anoop Jain
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Cash transaction more than 10000/-
Replies (3)
You should ask your customers to provide cheque payment
Yes, you can accept, restriction is on expenditure not receipt up to 200000.
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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