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Daily cash payment limit

Jamal Uddin Siddiqui (350 Points)

30 May 2018

please tell me about the par day cash limit is 10000.00 or more for one person .

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9 Replies

CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 30 May 2018

Cash Receipt of Rs 2 lakh or more, from a single person in a day is not allowed even if the amount has been paid through multiple transactions during the day which are below Rs 2 lakh.

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Surjeet Negi (947 Points)
Replied 30 May 2018

please refer sec 32 income tax where in business exp cash limit is 10000 and section 40(A)(3A) cash payment limit RS 10,000.
and newly inserted section 269ST: person who enter into transaction of RS 2 lac or above in cash will be liable to payby way of penalty the amount of txn.

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 30 May 2018

Cash Payment limit is restricted Rs. 10k to a Person in a day...

Jeeva Thangavelu (Student CA Final ) (609 Points)
Replied 30 May 2018

Limit is 10000/- per day per person except in case of payment for Freight where it is Rs.35,000/- per day.

Vinod Babu (24191 Points)
Replied 30 May 2018

Cash limit per day 10,000 to a person.

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vishnuvidhu (staff) (125 Points)
Replied 31 May 2018

cash received Rs.2 lacs per person per year ? various bills various amount received

Vinod Babu (24191 Points)
Replied 31 May 2018

Per person per day.

vishnuvidhu (staff) (125 Points)
Replied 31 May 2018

how ? for example A- Purchase -30-5.18 Rs. 190000/- , 31.5.18- Rs 100000/- 01-06.2018 Rs.50000/- totally A's Account in this year Rs.340000/- is correct?