Cash receipt in excess of rs. 20000
pooja mundada (articleship) (54 Points)
23 January 2016pooja mundada (articleship) (54 Points)
23 January 2016
santosh kumar
(article)
(29 Points)
Replied 23 January 2016
There is a Restriction for payment of Rs 20000 or more in cheque or draft.
u can receive any amount of mony for your books of a/c.
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 23 January 2016
Yes, you can receive more than 20000/-
Rahul Verma
(CA-Final)
(484 Points)
Replied 24 January 2016
Karthik.V.Kulkarni
(Chartered Accountant)
(594 Points)
Replied 24 January 2016
niket
(ca final running)
(51 Points)
Replied 24 January 2016
whether private limited company can receive in excess of Rs.20,000/- in Cash?
AMAR LAL MEENA
(INSPECTOR IN INCOME TAX DEPARTMENT)
(21 Points)
Replied 25 January 2016
Undoubtly allowed
abhishek goel
(Practice)
(89 Points)
Replied 26 January 2016
Kamal vashist
(Accountant)
(183 Points)
Replied 27 January 2016
As per sec40A and rule 6DD
if payment gives in CASH more than 20000rs than it shall be taxable
and if payment is made bu Cheque than nothing shall be disallowed
ramesh
(iiiiiiiiiii)
(34 Points)
Replied 30 January 2016
niket
(ca final running)
(51 Points)
Replied 31 January 2016
i had asked question related to private limited company & not for Individual or Firm.
again my question is that cash receipt by Private Limited Company in excess of Rs.20,000/- per day or per month allowable or not?is there any limitation for Private Limited Company for receipt of money in cash ?