Limit of cash payment to transporters from 1st april, 2017

HELLO SIR, I AM VERY IMPRESS AFTER READING YOUR POST FREQUENTLY AND WE ARE HAVING GOLD JEWELLERY BUSINESS SO WE HAVE FLOW FOR URD PURCHASE, SO CAN WE BUY OLD GOLD/SILVER JEWELLERY FROM CUSTOMERS MORE THEN 10,000/RS IN CASH? AND CAN YOU INFORM CASH LIMIT FOR BUY THESE URD PURCHASE?

Dear Shoaib,

Let me accept that most of jewellary business is running in cash mode only (even not properly accounted), but now because of digitalization and Government's intention to unearth black currency, things are becoming difficult.

So, officially [as per section 40A(3) of IT act] you cannot purchase or expend anything in cash for more than Rs.10000/- on any single day/event, unless on bank holidays etc. etc. (but customer's identity to be procured).

Though it is a big tussle  between department and businessmen, but you don't have any other option. Sorry!!

I purchase raw material issue me a bill from party without add a freight how can i pay the payment to the driver/transport cash

I purchase raw material issue me a bill from party without add a freight how can i pay the payment to the driver/transport cash

Let transporter issue bill in your favour.

How can cash limit of casual labour payment asper list

	sir, what is the monthly limit for the cash payment to a good transporter.

No monthly limit............ but any single/aggregate payment should not exceed Rs. 35,000/- per day per transporter

Dear Rambhai Sir,

What are cash receipt / payment limit for deposits and unsecured loan for A.Y. 2018-19

	What are cash receipt / payment limit for deposits and unsecured loan for A.Y. 2018-19

As per Section 269SS & Sec. 269T of IT act...... Rs. 20,000/---

Sir, payment to transporters per day limit 35000,but can you explain what amount should be paid in whole year FY 2017-18 ?

 

Section 40A(3) of IT act, specifies limit for aggregate of payments made to a person in a day; including transporter,  ..... but there is no cap over cash payments to such persons over whole year.  

Sri, i am a travel agent. i warking b2b business, i purchase portal from IATA. but i did not know how to pass entry in tally erp9? 

pls explain me. 

Warm Regards'