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Plz help me

764 views 8 replies

P.Mishra

Accountant

155 Points Joined July 2010

I want to know..can I make cash invoice or invoice to unregistered dealer greater than 20000. if no..whats the reason? plz reply...

Replies (8)

Sourav

Achieving d UnAchieved

991 Points Joined February 2011

As far as my knowledge is concerned u can make a cash invoice exceeding Rs 20,000/- Becoz of a simple reason is, if someone cums to you, you wont deny your sale just bcoz he is unregistered..... Limit of Rs 20,000 is on purchase.......but I am not sure..... Wait for comment from others......

Suresh Kumar

Accountant

31 Points Joined December 2012

i agree with sourav

P.Mishra

Accountant

155 Points Joined July 2010

thanks sourav, bt I saw Many palace where bill amount less than 20000.

Tarun

216 Points Joined September 2014

Boss .... 20000 concept is for disallowing If you make your sale invoice for more than Rs. 20000, Income tax would not disallow your sale as it is their loss only This limit is on expenses only...as it would increase your profit and tax if disallowed

Chitsimran Singh

Student CA Final

121 Points Joined December 2013

The rule of allowance/disallowance is not applied to sale / purchase. We can make payment more 20000 on purchase of goods. Agreed with Tarun.

Shalu

Article Trainee

21 Points Joined September 2014

If you are raising an invoice above 20000, it shall not be disallowed by the department, as it is a sale from your side. But the purchaser is not allowed to make payment beyond 20000. If he does, it shall be disallowed for tax purposes. Refer section 40A(3)with Rule 6DD for better clarification.