Receiving Cash as ADVANCE from Customer against Order more than Rs 20000 but less than Rs 2Lac in several instalments, is acceptable under current IT Act or not .Does this case falls under section 269ST of the IT Act
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Cash advance against order
Replies (2)
In Receicver's end no problem and sec 269st can't levied as per query.
But,
**In Payers end it's restricted sec 40(A).
But,
**In Payers end it's restricted sec 40(A).
payer is my customer I have their pan card number
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