How much amount of cash retail bill without any name can be drawn? I mean to say , can I draw retail bill just writing "cash" in the name of any amount? Please reply
You can issue retail invoice of any amount in cash as per DVAT Act 2004
But in accordance with the provisions of Income Tax Act'1961 The maximum amount of aggregate payment that an assessee can make in a day otherwise that Account payee cheque / Demand draft is Rs.20,000 Otherwise any expenditure incurred in excess of Rs.20,000 would not be allowed as expense.
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