Cash transaction limit reg
Marimuthu (Manager) (525 Points)
01 May 2021
Experts, What is the maximum limit to get the cash against sales invoice under Gst Act Or under Income Tax Act?
8 Replies
D.K. Sharma
(39 Points)
Replied 01 May 2021
Before 2 lac against single invoice. also required Copy of pan card and aadhar card if invoice value 50 k or more then 50 k.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 01 May 2021
200000 rupees in cash can be received in a single day
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 01 May 2021
I know that as per section 269ST, max cash receipts allowable is less than 2 lacs. But am not aware of requirement of pan/aadhar for purchase of >=50k.
D.K. Sharma
(39 Points)
Replied 01 May 2021
In cash sale, purchase we have required to avoid fake sale , purchase.
Lotus Agrawal
(Practice)
(1361 Points)
Replied 01 May 2021
Maximum Rs. 2L from a person in a day or against a single invoice or against a single event.
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