How many amount paid on cash
Rajat Sharma (Accountant ) (574 Points)
27 October 2021
Sir. I want to know that who many amount can be paid in cash against the purchases.Thanks.
3 Replies
Mukesh Katara
(Account manager)
(533 Points)
Replied 11 November 2021
An individual cannot accept more than Rs 2 lakh cash from close relatives in a single day. Companies, firms are also not allowed to accept or pay cash beyond a limit. If a business owner transacts for more than Rs 10,000 in cash, then that amount can not be claimed as an expenditure
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