Hello!!
we are dealing with the customers who pays in cash below Rs. 2 lacs for every transactions. However over the period of year these receipts are more than Rs. 2 lacs from a single customers. Please advise whether penalty u/S 271DA will be applicable?
No. Not applicable if aggregate of bills issued per day and cash received per day both do not equal to Rs. 2 lakhs or more.
RMA And Associates LLP
New Delhi
CA Inter
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CCI
Pro
CAclubindia
