shabnoor
(accountant)
(36 Points)
Replied 03 February 2018
SO HE NEED TO TAKE 7 LAKH IN CAH AND 1 IN CHQ.
shabnoor
(accountant)
(36 Points)
Replied 03 February 2018
BUT HIS AGREEMENT WAS OF 8 LAKH SHOWING 7 IN CASH AND 1 IN CHQ.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 Points)
Replied 03 February 2018
Now you cannot accept any cash of amount 2 lakhs (u/s. 269ST of IT act).......
You can accept total amount as cheque/bank transfer...... or max upto 1.999 lakhs by cash
shabnoor
(accountant)
(36 Points)
Replied 03 February 2018
SO HE NEED TO RECEIVE RS. UPTO 1.99LAKH IN CASH AND BAL IN CHQ.
SHOULD HE ACCEPT THE WHOLE AMOUNT OF RS. 6.01 LAKH BY ONE CHQ. AND IN ONE ACCOUNT ONLY. OR THERE IS SOME OTHER WAY TO RECEIVE FROM INCOME TAX POINT OF VIEW?
CAclubindia
