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cash_transactions_2017
Effect on Limit   W.E.F Financial Year Onwards Section Type Description
Revenue Expenditure Disallowed Exceeds ten thousand rupees (Rs.10,000/-)   01-Apr-2017 F.Y 2017.18 40A(3) and 40A(3A) Any Expenditure (no deduction shall be allowed) Payment or aggregate of payments made to a person in a day, otherwise than by an account payeee cheque drawn on a bank or account payeee bank draft or use of electronic clearing system through a bank account  
Depreciation Disallowed Exceeds ten thousand rupees (Rs.10,000/-)   01-Apr-2017 F.Y 2017.18 43(1) Expenditure for acquisition of any asset or part thereof (ignored for the purposes of determination of actual cost) Payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or an account payee bank draft or use of electronic clearing system through a bank account
Receipt of any amount for whatever reason. (Penalty is equal to the amount received) An amount of two lakh rupees or more (Rs.2,00,000/-)   01-Apr-2017 F.Y 2017.18 269ST Receipt of an amount  in aggregate from a person in a day; or  in respect of a single transaction; or  in respect of transactions relating to one event or occasion from a person Amount received otherwise than by an account payee cheque or an account payee bank draft or use of electronic clearing system through a bank account
Investment Deduction Disallowed Exceeds ten thousand rupees (Rs.10,000/-)   01-Apr-2017 F.Y 2017.18 35AD(8)(f) Expenditure of capital nature (shall not include) Payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or an account payee bank draft or use of electronic clearing system through a bank account
cash_transactions_2017.txt · Last modified: 04-Oct-2017 3:00 pm (external edit)

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