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Daily cash payment limit
please tell me about the par day cash limit is 10000.00 or more for one person .
Replies (9)
Cash Receipt of Rs 2 lakh or more, from a single person in a day is not allowed even if the amount has been paid through multiple transactions during the day which are below Rs 2 lakh.
please refer sec 32 income tax where in business exp cash limit is 10000 and section 40(A)(3A) cash payment limit RS 10,000.
and newly inserted section 269ST: person who enter into transaction of RS 2 lac or above in cash will be liable to payby way of penalty the amount of txn.
and newly inserted section 269ST: person who enter into transaction of RS 2 lac or above in cash will be liable to payby way of penalty the amount of txn.
Cash Payment limit is restricted Rs. 10k to a Person in a day...
Limit is 10000/- per day per person except in case of payment for Freight where it is Rs.35,000/- per day.
Cash limit per day 10,000 to a person.
cash received Rs.2 lacs per person per year ? various bills various amount received
Per person per day.
how ? for example A- Purchase -30-5.18 Rs. 190000/- , 31.5.18- Rs 100000/- 01-06.2018 Rs.50000/- totally A's Account in this year Rs.340000/- is correct?
Section 32 income tax where in business exp cash limit is 10000 and section 40(A)(3A) cash payment limit resrtricted to RS 10,000.
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