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limit of cash transaction
what is the limit of cash transaction of sale and purchase in one day?
Replies (3)
above 10000 you can not pay for a bill . how ever for sale there is limit you can not receive cash more than 200000 for a bill in a day.but better to do transaction through banking system.
as per section 40A(3) of income tax act as amended by finance act 2017, limit is rs 10000 for expenditures in cash in a single day to a person.
You cant receive 200000 from an party.....
you can't pay more than 10000 against an purchase......
its my personal opinion, if anybody have different view then views are welcome. thanks. Disclaimer: its not Professional Advice.
you can't pay more than 10000 against an purchase......
its my personal opinion, if anybody have different view then views are welcome. thanks. Disclaimer: its not Professional Advice.
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