02 January 2014
We are running real estate business of construction of flats and we accept booking amount and other installments as "Advance from Customers" through cash and cheques and cash amount exceeds Rs 20000/- every time. So whether section 269ss or 269t is attracted on cash receipts. If so what are its effects, we have audited our balance sheets also but our CA didn`t find these defaults. Kindly guide me Experts. Thanks
CAclubindia
