Easy Office
LCI Learning

Income Tax Cash Purchase Limit


21 February 2024 Respected Sir

The Cash Expenses Limit in Income tax is Rs.10,000

My first question is - is this limit Include Purchase of goods
If we Purchase goods for sale more than 10,000 then we have to pay this amount other than Cash ???

And the Second question is if we declare our income under presumptive u/s 44ad than also this rules are applicable ???

21 February 2024 2nd question, No issues. this is not applicable...

21 February 2024 For 1st question, above 10k cash is restricted. If purchase exceeds above 10k then yes You must be pay through banking mode....




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries




Answer Query