dear sir
I want know that if one traders has retail business so he can cash sales to one party in a day more than rs 10000
what is the penalty of it
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about cash sales in 2017-18
Replies (2)
No provision as per income tax act for revenue (sales). so no issue.
for further information refer 40A(3) as income tax act
As such, there is no penalty for cash sale under the Income Tax Act.
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