What is the basis of reporting under Rule 114E? Specifically, for persons liable to Audit u/s 44AB.
Do we have to take into account cash received towards sales even if various bills are issued but a single payment of Rs. 2lakhs or more is received?
Ketan Lathia (CA Practice ) (125 Points)
25 May 2017What is the basis of reporting under Rule 114E? Specifically, for persons liable to Audit u/s 44AB.
Do we have to take into account cash received towards sales even if various bills are issued but a single payment of Rs. 2lakhs or more is received?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(163162 Points)
Replied 30 May 2017
"Do we have to take into account cash received towards sales even if various bills are issued but a single payment of Rs. 2lakhs or more is received?"
Yes, if the cash received on single day from single person.
CAclubindia
