Wednesday 5 April 2023

Many provisions for cash transactions-

Many provisions for cash transactions-

* 40(A)(3)- 10K exp. limit
* 44AB- 95% audit criteria
* 44AD- Profit 8%, not 6% 
* 80D- Not allowed
* 80G- 2K limit
* 80GGB/GGC- Not allowed
* 80JJAA- Not allowed
* 194N- TDS on withdrawal
* 269SS/T- Loan 20K limit
* 269ST- Receipt 2L limit

Cash deposit more than 10 lakh (saving)
Cash withdrawal more than 10 lakh (saving)
Cash deposit more than 50 lakh (current)
Cash withdrawal more than 50 lakh (current)
FD made in cash more than 2 lakh
Credit card bill paid more than 1 lakh

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