Dear Experts, Kindly guide, whether a single bill of Rs.28,800/- can be paid in cash on several dates .
like
Rs 9000 on 21.3.19
Rs 9000 on 22.3.19
Rs 9000 on 23.3.19
Rs 1800 on 24.3.19
2 Replies
CA Ankit Garg
(MD | Genuine Filings)
(781 Points)
Replied 19 March 2019
Allowed as per Sec 40A(3) but not above ₹200000 against a single transaction
jayakrishnan
(student)
(36 Points)
Replied 19 March 2019
As per section 40(3) cash transaction shall not exceed Rs. 10000 per day
For transport operators only the threshold limit is Rs. 40000
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