Dear sir
I have milk business. Each of my customers is billed more than 12000/- daily.so can I get more than Rs 10000/- in cash in a day from each customers.
Best regards
Anoop Jain
3 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 28 February 2021
You should ask your customers to provide cheque payment
anil jain
(Partner)
(1072 Points)
Replied 02 March 2021
Yes, you can accept, restriction is on expenditure not receipt up to 200000.
Anil Rawat, ACA
(CA in Full Time Practice)
(68 Points)
Replied 02 March 2021
No person shall receive an amount of Rs 2,00,000 or more in aggregate from a person in a day, or in respect of a single transaction, or in respect of transactions relating to one event or occasion from a person, otherwise by an account payee cheque or an account payer bank draft or use of electronic clearing system through a bank account.
Accordingly, if you receive 12000 on daily basis then there is no issue as per my understanding.
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