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C ash payments

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 September 2012 Can cash above Rs 20000 be paid in a single day to a person as advance against property booking?
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
08 September 2012 Cash payment i.e section 40A(3) will not attract for purchase of fixed assets. However it will not attract for advance payments.

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SANYAM ARORA

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SANYAM ARORA (Expert)
08 September 2012 Agreed with the reply
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
07 October 2021 From FY 2016, u/s. 269SS, seller cannot accept the cash amount in cash.

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