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Cash Transaction

02 May 2020

As per IT ACT cash transaction in one or multiple invoice maximum less than 2 Lakh per customer
my question is if cash invoices issued then seller how much amount cash received in a day against that cash invoice or invoices in one purchaser ?

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3 Replies

subharati banerjee (49 Points)
Replied 02 May 2020

10000 per day

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TARUN DAS (170 Points)
Replied 02 May 2020

Plz clarify 10000 if cash transaction limit less than 2 Lakh why 10000 concept

Abhishek Kumar Gupta (Article) (148 Points)
Replied 03 May 2020

Against one invoice seller can receive max below 2 lacs. but if buyer pays more than 10,000 in cash for any expense then he cannot get deductions for such expense.