25 March 2022
Dear experts, We have issued 340000/- invoice to customer on 18/3/22 and received 250000/- as cash on 23/3/22 and out of that few items returned by customer amounted to Rs 130000/- on 24/3/22 and again invoiced around Rs 130000/- on same day. I would like to know by splitting cash receipt 250000/- to 190000/- in a day and in another day 60000/- whether we can avoid penalty as per the sec 269st income tax? or what to be done in this matter . kindly suggest
CAclubindia
