dear sir
according my knowledge, anybody can purchase and sales in cash below 2 lacs, if more than two lacs 100% penalty
above is right or wrong ?
2 Replies
rama krishnan
(12239 Points)
Replied 14 August 2017
purchases come under the category of expenses and it's covered by section 40A(3) and the threshold is 20000 till a.y. 2017-18 and rs. 10000 from a.y. 2018-19. in respect of sales if u receive cash more than 2 lakhs from a person in a day or in respect of single transaction or event, then 100% of amount shall be levied as penalty u/s. 269st
Prakash Chauhan
(172 Points)
Replied 14 August 2017
agar 10000 se less hota to 200000 ka saval hi nahi paida hota
Recent Topics
- GST on consultancy
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
- TCS adjustment
- GST audit and scrutiny
- GSTR9 Table 8 - 8A and 8B difference is 4D(1). in
Related Threads
CAclubindia
