Cash receipt in a single day
This query is : Resolved
09 April 2020
How much cash can be received by a whole seller in a single day against a single invoice?
Further I want to know if payment made for business expenditure of more than 10000 in a single day to a single person, it disallowed to person who made it but who received the payment, what will be the impact in his book?
Further I want to know if payment made for business expenditure of more than 10000 in a single day to a single person, it disallowed to person who made it but who received the payment, what will be the impact in his book?
09 April 2020
1 Rs 1,99,999 can be received in cash against single invoice in a day.
2 Recipt more than 10,000 no problem.
2 Recipt more than 10,000 no problem.
09 April 2020
Yes, you can receive upto Rs. 1,99,999 in a single day against a single invoice.
Rs. 10,000 will be disallowed in case of the person who is making the payment
Rs. 10,000 will be disallowed in case of the person who is making the payment
09 April 2020
Thank you sir
It has been a matter of doubt to me since I have read sec 40A(3)
It has been a matter of doubt to me since I have read sec 40A(3)
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