Rent : Cash

Can a person receive rent in cash upto Rs. 200000.

is their any other compliance formalities to be completed in this case.

Thanks & Regards
Replies (2)
Quick Summary
This discussion explores the legality of receiving rent payments in cash, specifically up to Rs. 200,000. While one user states the cash receipt limit applies regardless of purpose, another clarifies that the restriction may not apply to personal transactions and requests a section reference for confirmation. The core question revolves around compliance formalities for such cash rent transactions.

The restriction of receipt of money in Cash of Rs 2 Lakh or above in cash is applicable irrespective of whether it is for  personal / business purpose, capital or revenue in nature, tax-free or taxable income.

 

Dear Roshan Kumar ji

The restriction isn't there for personal purposes. please share section reference for my knowledge.

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