What is the basis of reporting under Rule 114E? Specifically, for persons liable to Audit u/s 44AB.
Do we have to take into account cash received towards sales even if various bills are issued but a single payment of Rs. 2lakhs or more is received?
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 30 May 2017
"Do we have to take into account cash received towards sales even if various bills are issued but a single payment of Rs. 2lakhs or more is received?"
Yes, if the cash received on single day from single person.
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