cash receipt above 200000

This query is : Resolved

Rakesh Sharma (Querist)
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01 April 2017 dear experts, please advise me is the new section of cash receipt above rs. 200000 are applicable on below situations :- 1) 4 bills raised to a party around 60000/- each on different days but total is 2.5 lacs and received cash against the each bill separately i.e. 60000/- around on different days. 2) issued a single invoice of rs. 2.5 lacs and received cash partly against this invoice on different days each entry is below 10000/- 3) cash paid rs. 2.5 lacs in a single entry against 10 different bills of same party. please advise rakesh sharma

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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03 April 2017 1) As the bills are separately issued on different dates and payment has been received on different days against each bill separately there will be no violation of section 269ST. as the same would not amount to single transaction.
2) Payment received against single invoice even on different days and none of such payments exceeding 2 lakhs will attract section 269ST since it is received against a single transaction.
3) In my opinion it will be covered