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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