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Receipt of bulk amount

This query is : Resolved 

27 February 2012 Now I am working in a Construction private limited company. Whether I can Receive an amount of Rs.25,00,000 as cash from a client? Is there any section related to it. Please clarify the doubt as early as possible.

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27 February 2012 You can receive the amount. But you need to give a stamped receipt for receiving cash.

28 February 2012 Thank You. But then why we generally accept all receipts through Account payee cheque or DD?




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