Cash limit to purchase property
Tarun (Asst.) (73 Points)
04 October 2019
Dear Sir, what is the limit of cash payment for purchase of immovable property
2 Replies
SAIKUMAR CHIRRAM
(41 Points)
Replied 04 October 2019
As per section 40(A) 3 , maximum limit is rs 20000
Kapadia Pravin
(17264 Points)
Replied 05 October 2019
@ Tarun
Section 269ST in the Income Tax Act bans such transactions in cash amounting to Rs 2 lakh or more on a single day, in respect of a single transaction or transactions relating to one event or occasion from an individual
@ Saikumar
I think 40(A)(3) is only for business revenue expenditure .
Section 269ST in the Income Tax Act bans such transactions in cash amounting to Rs 2 lakh or more on a single day, in respect of a single transaction or transactions relating to one event or occasion from an individual
@ Saikumar
I think 40(A)(3) is only for business revenue expenditure .
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