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Regarding cash transaction
Sir I want to know that I am an gst holder and made the cash transaction.Sir how many amount I can be received on account of sales.
Replies (4)
Please clarify this
1. you hv gst registration
2. you receive cash from your customer and cheques from customer.
3
there are certain restrictions on account of banking of cash as enumerated In different section of income tax act.
Since you hv not asked for it.
Now you can deposit Rs. 2 lakhs per day in a bank account .
deposit Rs.199999 per day.
This is the limit.
Cheque and online transactions are limitless.
1. you hv gst registration
2. you receive cash from your customer and cheques from customer.
3
there are certain restrictions on account of banking of cash as enumerated In different section of income tax act.
Since you hv not asked for it.
Now you can deposit Rs. 2 lakhs per day in a bank account .
deposit Rs.199999 per day.
This is the limit.
Cheque and online transactions are limitless.
U can receive maximum rs. 2L from a person against a single invoice or transaction or event.
200000 rupees in a single day in a single transaction should be received in cash
But keep in mind that above 50000, either pan or Aadhar is compulsory
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