nitin agrawal (work under advocate and chartered accountants) (29 Points)
13 April 2017I want to know that Can I sold goods in cash below 200000 rupees to one person in a day in single transaction and what are the documents required to take from customer as pan card or another and sale limit for requiring pan card.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178281 Points)
Replied 14 April 2017
"Can I sold goods in cash below 200000 rupees to one person in a day in single transaction?........... YES
INCOME TAX NOTIFICATION NO. SO 3545E DT. 30/12/2015
FOR ASSESSEE COVERED U/S 44AB OF IT ACT, 1961
Sales or purchase of any goods and services exceeding ₹ 2.00 lac per transaction
(with effect from (w.e.f.) Jaunuary 1, 2016
[Other than motor vehicles, hotel or restaurant bill, foreign travel expense, securities, LIC, immovable property etc. (covered otherwise by specific rules)
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