watch_later 06/01/18

Respected Sir,

Your Language is very clear with no ambiguity in any sentences any layman having basic knowledge can know the content prepare.

Now My request is you please make us clear with all cash limit with regard to spending,depsoting withdrawal under both gst and income tax

1 Response | Latest response: 06/01/18 | Sort by Likes(thumb_up) Recent | Income-Tax Reply
watch_later 06/01/18

Under GST there is no limit on cash transactions as GST is about collecting tax on supply of goods and services.

Under income tax there are different limits under different sections.

Section 40A(3) deals with disallowance for cash transaction and section 269ST, 271D, 269SS, 269T deals with cash loans and cash advances.

I will be writing an article tonight to cover income tax limits and penalties tonight and update link here.

Read the article cash limits under Income tax

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