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Sft reporting in case of cash receipt

uma sharma (student) (106 Points)

18 May 2023

In case of SFT cash receipt in excess of 2 lac , limit should be checked in aggregate or in single transaction?

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5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177824 Points)
Replied 18 May 2023

The limit is for each single transaction...

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uma sharma (student) (106 Points)
Replied 18 May 2023

Sir if i issue invoices on different date and received 5 lakh from same person against different bill on different date . Is it allowed and also sft transaction is reportable or not?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177824 Points)
Replied 18 May 2023

It will not be allowed when the invoices are raised on same person., being sales on credit.

But for cash invoice the person doesn't get involved and as such cash sales bills are allowed.

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uma sharma (student) (106 Points)
Replied 20 May 2023

Sir if i have issued cash bill on single person bill amt per invoice less than 2 lac . 30 bills are issued in a year aggregate of which is 8 lac . Payment is received on different dates and for different bill relating to kirana items . Is it allowed and is it reportable as sft transaction?