1) A business person can make sales to customer (end user) more than Rs10000/- with tax invoice any penalty charged by income tax?
2) A Business person purchase a goods relating to business more than Rs 10000/- any penalty charged by the income tax?
With sale there is no issue. You can make sales for upto 2 lakh with a single person in cash.
For purchase you cannot pay more than Rs. 10,000 for a single transaction, it will be disallowed under income tax.
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