Limit cash

ABHI KUMAR (607 Points)

27 December 2020

if i sale my goods to register gst party means b2b then what is the limit of receipt cash entry in single one day

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CA. Sourav Sarkar (Chartered Accountant ) (24573 Points)
Replied 27 December 2020

In gst there is no such limit, but in income tax you should receive upto 200000 rupees in a single one day u/s 269st

You should receive upto 200000 rupees otherwise penalty would be attracted u/s 271D

Rajeev Brnwal (10 Points)
Replied 27 December 2020

Cash receipts,branch transfer are not liable income tax rule 10000 where it is applied in cash payment for expenses single party single day 10000

ABHI KUMAR (607 Points)
Replied 27 December 2020

Sir business to business cash limit plz in short way sir recipt cash entry 2 lac or 10000 iam confuse

CA. Sourav Sarkar (Chartered Accountant ) (24573 Points)
Replied 27 December 2020

200000

ABHI KUMAR (607 Points)
Replied 27 December 2020

Den 10000 rule plz sir

CA. Sourav Sarkar (Chartered Accountant ) (24573 Points)
Replied 27 December 2020

10000 rupees is the maximum payment you should pay in a single day

ABHI KUMAR (607 Points)
Replied 27 December 2020

To jinse mene 2 lac ek din m agar cash lu to vo kese muje 2 lac de sakte hai jabi payment limit to 10 hajar h

CA. Sourav Sarkar (Chartered Accountant ) (24573 Points)
Replied 27 December 2020

As per your perspective you should receive upto 200000 rupees means less than 200000 rupees in a day.
And as per your purchaser perspective he should pay maximum 10000 rupees in a day as per IT act.

Think from buyer and seller perspective

ABHI KUMAR (607 Points)
Replied 27 December 2020

Ok sir now clear thanks

CA. Sourav Sarkar (Chartered Accountant ) (24573 Points)
Replied 27 December 2020

Thank you

Balamurali Unnithan MS (STUDENT) (1631 Points)
Replied 27 December 2020

Expenses Limit Rs .10000 / day from f.y 2018-2019

For receipt of money upto 200000 is allowable from a person , per ocassion , per event ,per day u/s 269ST of IT Act!

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