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Notification no. 27/2011 dated 26/05/2011

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 August 2011 whether Limit of Rs.500000/- is applicable to only one transaction Or for whole year (i.e More than one transaction during the year exceeds total of 500000/- but individual transaction does not exceeds 500000/-) What is Applicable One transaction limit or limit for the whole year?

07 August 2011 The language used is "bill of Rs. 500000." So it should obviously be a single transaction.



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