Restiction on cash receipt more than 20000/-

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Ashok (Querist)
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07 August 2009 Is there any restiction on cash receipt in excess of Rs 20000/- under income tax act.

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Ashok Sharma

Deepali (Expert)
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07 August 2009 No. There is no restriction on the cash receipt over Rs. 20,000/- The dis-allowance of expenditure is not applicable for receipts.

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