cash transaction
R.SATISH KUMAR (ACCOUNTANT) (110 Points)
01 January 2019how much cash (limit) can bring in withdraw in proprietorship and firm.
beyond the limit what is the impact.
thanks in advance
R.SATISH KUMAR (ACCOUNTANT) (110 Points)
01 January 2019
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 01 January 2019
Their is no limit in cash withdrawal however you cannot make payment of above Rs.10,000/- in cash for expenses and above Rs. 35,000/- in cash to transporters.
You cannot accept 2,00,000/- cash in a single day or for single transaction or from single party
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961