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.
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...
Varma Raja & Associates
Thrissur
CA Inter
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CCI
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CAclubindia
