Sec-269ST Doubt
This query is : Resolved
11 April 2017
Can a retail shopkeeper receive Rs. 2 lakh or more in cash from single person on different dates in smaller denominations say Rs. 10,000 on each date. Assume that payment is received against multiple bills such that single bill amount is less tha Rs 200000.
Message likes :
1 times
12 April 2017
Total amount should not exceed 2 lakh per DAY from a single person it doesn't whether you are receiving it in respect of one bill or multiple bills (each less than 200000)
Please check the below link, it provides good explanation - https://www.taxmann.com/topstories/105010000000014299/section-269st-the-impact-analysis.aspx
Please check the below link, it provides good explanation - https://www.taxmann.com/topstories/105010000000014299/section-269st-the-impact-analysis.aspx
Message likes :
1 times
12 April 2017
Thanks Sir. But i am still unclear that whether retail shopkeeper receive cash of Rs. 2 lakh or more in aggregate from single customer during FY split into different dates.
12 April 2017
The limit is for a day not for a year.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
CAclubindia
