how much tax will impose for payment received in cash in excess of Rs. 20000 against a single invoice in a single day?
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How much tax will impose for payment received in cash in excess of rs. 20000 against a single bill
Replies (7)
cash payment 20,000 to 10,000 for the f/y 2018-19 is disallowed if made against single bill to single person
You can RECEIVE upto Rs 199,999 from a person...
* Cash payment (Expenses) is restricted Rs 10k to Single person in single day...
* Cash payment (Expenses) is restricted Rs 10k to Single person in single day...
Thank You Sir, now I just want to know in which u/s of the IT Act/GST Act does it attract? Can you please explain in detail???
Just read the sec 40A(3)
& with
Sec 269SS and 269ST...
also with latest Amendment...
& with
Sec 269SS and 269ST...
also with latest Amendment...
Restriction for cash payment of 10000 applicable to fy 2018-19 or fy 2017-18 please clarify
restriction under section 40A(3) applies only on cash payments and not on reciepts. so,TDS will not be deducted and no need to worry of disallowance. cah payment is restricted to rupees 10000 it is applicable from fy 2017-18.
I endorse Mr Raja and Mr bhoomeswar
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