Plz help me

Sourav

Achieving d UnAchieved

991 Points Posted on 02 October 2014

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 Posted on 02 October 2014

i agree with sourav

P.Mishra

Accountant

155 Points Posted on 02 October 2014

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

Tarun

AM

216 Points Posted on 03 October 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 Posted on 03 October 2014

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 Posted on 03 October 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.