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Plz help me

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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...
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On 02 October 2014 at 12:45 Report
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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...... 

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On 02 October 2014 at 17:34
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Accountant
31 Points Joined December 2012
i agree with sourav
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On 02 October 2014 at 19:00
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Accountant
155 Points Joined July 2010
thanks sourav, bt I saw Many palace where bill amount less than 20000.
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On 02 October 2014 at 21:05
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AM
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
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On 03 October 2014 at 12:39
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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.
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On 03 October 2014 at 13:35
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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.
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On 03 October 2014 at 17:14
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chief Accounts Officer
79 Points Joined May 2009
Totally agree with Shalu.
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On 04 October 2014 at 15:28
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Student
35 Points Joined August 2014

rule of 20000 is applicable on expences not on sale or purchase

 

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On 24 May 2016 at 21:02

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