Excess recd of payment more than 20000 in cash
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 May 2012
payment of more than rs.20000 in cash is disallowed ... but can we shows in our books of account:- cash sales of rs.50000/75000 (1 bill) etc
.
& reced cash ( against such sales )of rs.35000, 40000 (in 1 time)etc..
.
& reced cash ( against such sales )of rs.35000, 40000 (in 1 time)etc..
11 May 2012
Cash sales can be shown in the books of accounts and there are no problems in respect of such sales.
11 May 2012
As per sec 40(a)Cash payment made for expenses more than 20000/- is disallowed. This section does not includes the receipt of more than 20000/-. So all receipts are shown in books whether it is from cash or cheques.
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