Cash payment
NICSON JOHN (514 Points)
01 October 2020
if l am not maintaining accounts and not liable to audit then how deparment know about cash payment exceeding 10000?
2 Replies
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 01 October 2020
If you are not maintaining accounts and not liable for audit, than you are suppose to file your return under presumptive Taxation i.e 44AD ect...
in that case Sec. 40A(3) disallowance of cash payment exceeding 10,000 not applicable.
in that case Sec. 40A(3) disallowance of cash payment exceeding 10,000 not applicable.
prasad Nilugal
( GST Practitioner & Accounts )
(14805 Points)
Replied 01 October 2020
Also in ITR 4 (44AD) , Trade creditors , Trade receivable , Cash , Bank , stock info is mandatory .
Recent Topics
- Softex For freelancer ?
- GST ON REIUMBURSEMENT ENTRY ON GST PORTAL
- Missing invoice in gst
- GST on consultancy
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
Related Threads
CAclubindia
