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Cash to sub contractors

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(Querist)
21 December 2021 I want to know whether sub contractors can get receipts in cash and can they show those receipts in 44AD
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
21 December 2021 As per sec. 269ST, from any one party/bill/event cannot accept Rs. 2 lakhs or more in cash mode.
Otherwise no query under presumptive assessment.
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pooja

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pooja (Querist)
21 December 2021 Thanks , so if I show cash receipts of Rs.15 lakhs from different parties under 44AD, is that fine ..
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
21 December 2021 Yes, but take care receipt from non of the party is equal or exceed Rs. 2 lakhs, for the same contract in the FY.
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pooja

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pooja (Querist)
21 December 2021 Yes...yes...I will take care of that..thanks a lot
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
21 December 2021 Most Welcome..

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