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cash received against tax invoice

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 February 2011 Sir/Madam
Can i received 100000 rs. of invoice in 5 time 20000 rs. payment by our party
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
01 February 2011 If it is cash invoice. Full payment can be received against each invoice. If it is credit invoice, the problem may arise but there is no bar under income Tax to recive payment in cash.

Section 40A(3) applies to payer only
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Guest

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Guest (Expert)
01 February 2011 Agree with Mr. Suneel.
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