Daily limit of cash transaction

Daily - 10000 for payment of expenses and creditors

You can not receive payment above Rs. 200000

Daily - 35000 for Transport Business

Is there any condition about receipt from single transaction/person

For creditors, the limit is 20000

There is no specific limit for cash transactions but as per sec 40A(3) it will get disallowed is payment for a expenditure made to a person in a single day for amount exceeding ₹10000 for mode other than by a/c payee cheque or bank draft or by mode specified under rule 6ABBA. for hire limit is ₹35000. and allowed if exp exceeds limit if condition under rule 6DD satisfied.