Acceptance of cash exceeding Rs. 20000 from a debtor
Simran Katyal (Chartered Accountant) (182 Points)
24 December 2016My query is that can a company accept an amount exceeding Rs. 20,000 in cash , as an advance from debtor?
Also, please confirm provisions of Sec 206C (TCS) if services rendered during year exceed 2L (different invoices have been made).