Dealing with cash payment abovr 20000

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please guide me

Is there any   maximum limit  for receiving a cash payment ..

Is this maximum limite applicable for single cash receipt . or cash reciept  in a day , cash received in a year.

If i am doing a business of agricultural crop .... can i receive a payment of rupees 2 lac in cash against my crop.

 

 

Replies (1)

No limitations on receipts.....But If Cash is received 20,000/- or more as a deposit/Loan then Sec 269 SS will get attract and Penalty will be imposed...


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