What is the daily limit of cash transaction?
Rs.10000 / Rs. 35000 as the case may be OR Rs. 200000
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Daily limit of cash transaction
Replies (4)
Quick Summary
Daily - 10000 for payment of expenses and creditors
You can not receive payment above Rs. 200000
Daily - 35000 for Transport Business
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.
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