CASH SALES LIMIT AND CASH PURCHASE LIMIT
6 Replies
Jagdish Makwana
(30 Points)
Replied 02 April 2020
Okay will try but tell me limit for cash sale and cash purchase
CA ARPIT BANGA
(job )
(376 Points)
Replied 03 April 2020
Section 269ST :- No person shall receive an amount of Rs. 2 Lakh or more:
(a) in aggregate from a person in a day; or
(b) in respect of a single transaction; or
(c) in respect of transactions relating to one event or occasion from a person,
(a) in aggregate from a person in a day; or
(b) in respect of a single transaction; or
(c) in respect of transactions relating to one event or occasion from a person,
MAHARAJA SELVA ESWAR
(285 Points)
Replied 12 April 2020
As per section 40A(3), no cash payment above Rs.10000 per transaction per party can be made in a day.
sabyasachi mukherjee
(27574 Points)
Replied 21 April 2020
@ selva
@ arpit
cash sales - cash generated from sales should not exceed Rs.2 lakh per day per person.
cash purchase- Sec 40 A(3) provides for disallowance of expenses in respect of which a payment or aggregate of payments made to a person in a day ,otherwise than by account payee chq drawn on bank should not exceed Rs.10000
@ arpit
cash sales - cash generated from sales should not exceed Rs.2 lakh per day per person.
cash purchase- Sec 40 A(3) provides for disallowance of expenses in respect of which a payment or aggregate of payments made to a person in a day ,otherwise than by account payee chq drawn on bank should not exceed Rs.10000
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