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Daily limit on cash reciept
Is there any limit on cash reciept in a single day from a party??
Replies (3)
Yes........... 2 lakhs of rupees
Rs 10000 clause is there or not ??
That is for dealers/purchasers .... as per section 40(3A) .....i.e any payment in cash above ten thousand rupees to a person in a day, shall not be allowed as deduction in computation of Income from "Profits and gains of business or profession";
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