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Income Tax Penalty on Cash Transactions | Income Tax Limit for Cash Transactions ft

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  • Опубліковано 10 вер 2022
  • In the Indian economy, cash transactions have always played a major role and serve as a consistent reason for the accumulation of black money. The Government has recently initiated various measures to curb cash transactions and boost digital payments. In this article, we look at the cash transaction limit under the Income Tax Act along with the penalty for transacting in cash over and above the specified threshold. In this session we have discuss Income Tax Penalty on Cash Transactions | Income Tax Limit for Cash Transactions
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КОМЕНТАРІ • 116

  • @sougatachattopadhyay3148
    @sougatachattopadhyay3148 Рік тому +5

    Good Morning Boss, Thanks for Useful Information. God Bless.

  • @mangeshjadhav3372
    @mangeshjadhav3372 Рік тому +5

    Thank You Sir for this informative video 😊

  • @nbpant4690
    @nbpant4690 Рік тому +3

    Very informative and excellent method of explaining thanks pse

  • @firtu..rathiya
    @firtu..rathiya Рік тому +1

    Bahot best jaankari sir ji🙏🙏🌹

  • @Sonuthakur-me3qu
    @Sonuthakur-me3qu 11 місяців тому +2

    Sir 20k se upar ka hi toh cash nhi le sakte lekin 20k tak toh le sakte hai and usse Kam upto 20k tak ka bhi nhi Lena hai kya ya upto 20k tak le sakte hai usse uper nhi

  • @samanthaj1467
    @samanthaj1467 Рік тому +1

    Aap ne UA-cam par discuss kiya aur notes daal rahen hain telegram channel par! UA-cam par kyun nahi?

  • @jarnailaulakh7453
    @jarnailaulakh7453 11 місяців тому +1

    Very good information.Thank you Sir.

  • @narayanjayaramchawda7342
    @narayanjayaramchawda7342 Рік тому +1

    Kisan cash credit ac is not a savings account. In my TIS my transaction in my kisan cash credit ac has been clubbed with my s/b account. how to rectify it?

  • @sureshr5282
    @sureshr5282 5 місяців тому +1

    Very good explanation

  • @Rajeevblogs98
    @Rajeevblogs98 Рік тому +3

    Sir very very usefull video thanks

  • @Sonuthakur-me3qu
    @Sonuthakur-me3qu 11 місяців тому +2

    Sir ek baat samajh main nhi aai 1 financial year main hum ek person se 2lakh se jada nhi le sakte kya.

  • @pawanprabhakar202
    @pawanprabhakar202 Рік тому +2

    Very nice and knowledgeable presentation.

  • @mdsohrab1021
    @mdsohrab1021 6 місяців тому +1

    Sir gst registered person se bhi 2 lac ke andar single day me receive kar sakte hain ?

  • @thewinners9834
    @thewinners9834 6 місяців тому +1

    Sir mera tata caoital ka emi 37000 hai, to ispe kya koi issue hoga ??

  • @aman360
    @aman360 Рік тому +1

    Sir blood relations me bhi nhi le skte 20000 se jyada

  • @yogeshrawat0210
    @yogeshrawat0210 Рік тому +1

    Hello Vivek sir I am great fan of you the way of teaching concept is amazing you are great sir I m follow you last few months
    1) if I sales to person over 10 lacs in 10 transaction or bills on same day should I take cash payment on different dates
    Is Income tax penalties arise?
    2) we can use expense in business in 4 cash transaction amount below 10k
    Can I do this expense?
    Please clarify
    I think both cashes income tax not arise

  • @laxmikantatung1133
    @laxmikantatung1133 10 місяців тому +1

    if i m gst payer, Can I purchage 4 lks of good using 3 lakhs NEFT and 1 lakh cash from Supplier.Kindly answer

  • @vikramjeetray4939
    @vikramjeetray4939 Рік тому +1

    Sir aap ki sabhi video use full Mai bahut kuch sikh raha hu sir plz itr 3 me video banye kaise file kaise fil kare from aur kya jaruri hai

  • @user-sumit87
    @user-sumit87 6 місяців тому +2

    Purchase ke against mai kitna cash payment kar sakte hai sir

  • @ps-gh3hu
    @ps-gh3hu Рік тому +2

    Bahut hi badhiya guru

  • @DpMitmax1515
    @DpMitmax1515 Рік тому +1

    Sir a party se poore year me kitna cash lena hai

  • @udaygupta9316
    @udaygupta9316 Рік тому +1

    Superb explanation,Dil khush ho gaya 🙏

  • @curious1245
    @curious1245 11 місяців тому +1

    👍
    सर क्या एक प्रोपराइटर शिप फर्म अपने सप्लायर को परचेज की बैलेंस पेमेंट 2लाख कैश में कर सकती है दस दस की अलग अलग डेट पर? कोई पेनाल्टी तो नहीं लगेगी? परचेज के 2 बिल मई_ जून के है 3 लाख के और पेमेंट अगस्त और सितंबर में होनी है। कृपया बताइए 🙏

  • @pradeepshende9416
    @pradeepshende9416 Рік тому +2

    Our office me jo sales staff hota hai unhe tour imprest kitna de sakte hai cash me

  • @meeheepsahu9674
    @meeheepsahu9674 Рік тому +2

    Current account k atm se cash deposit karenge to kya ise bhi one yr 50 lac limit me add hota h

  • @gobaraGanesh
    @gobaraGanesh Рік тому +1

    Tq

  • @kanzariyaashvin4228
    @kanzariyaashvin4228 Рік тому +2

    Agriculture machinery farmers Ko sales kare to farmer cash me paisa deta he...kya penalty lagegi...eg. thresher machine, tractors etc

  • @yogeshpimple2860
    @yogeshpimple2860 Рік тому +1

    Thanks

  • @raghunathachrekar1736
    @raghunathachrekar1736 Рік тому +1

    Whether we can purchase regular goods on cash payments exceeding limit

  • @jeetthakur9615
    @jeetthakur9615 Рік тому +1

    Sir ji please help for it
    buSsiness me kisi purchase pr cash payment kitni kr skte hai kitni last limit hai amount ki cash me pay krne ki

  • @sarcasticaloo2220
    @sarcasticaloo2220 Рік тому +1

    SIr, what If I pay a farmer 10 lakh in cash to buy agriculture produce, is it allowed...

  • @alokdixit4986
    @alokdixit4986 Рік тому +2

    10k ki limit sirf expense pr hai ya fir sir goods ya service purchase pr bhi hai

  • @itsvinitsingh
    @itsvinitsingh Рік тому +1

    Thank you so much sir 🙏🙏🙏🙏

  • @PriyaSingh-nr8kr
    @PriyaSingh-nr8kr Рік тому +1

    Sir, I recently went to audit a restaurant where they have take 30,000 in cash for a party at their banquet.
    What's the limit for cash sale transaction for cafes and hotels.?

  • @rinku9690
    @rinku9690 Рік тому +1

    40(A)3 me expenses matlab ki purchase of goods ya phir normal business expenses????

  • @Skk-hi6wz
    @Skk-hi6wz Рік тому

    Sir यदि कोई ग्राहक A और उसका भाई B दोनों मिलकर ढाई लाख रुपए की एक गाड़ी खरीदते हैं जिसमे A एक लाख कैश में और B डेढ़ लाख कैश में पेमेंट करते हैं जबकि गाड़ी A के नाम पर खरीदी जाती है तो क्या ये 269 st का उल्लंघन होगा या नहीं?
    Plz reply करें 🙏

  • @brijeshpatel9317
    @brijeshpatel9317 Рік тому +2

    Sir but jo tv ka 1 lakh cash pay kar raha hai wo bhi businessman hai to uske par to penalty lagegi na?

  • @careforuassociates330
    @careforuassociates330 Рік тому +1

    Super🎉

  • @buntyverma5492
    @buntyverma5492 Рік тому +2

    Nice information sir

  • @parvezraihan6005
    @parvezraihan6005 Рік тому +1

    Business expenditure address to irrespective of capital expenditure and revenue expenditure ?

  • @lokeshwarichaudhari3536
    @lokeshwarichaudhari3536 Рік тому +1

    Sir proprietor apne firm me cash me kitna tak amount daal sakte hai..?

  • @umashankar400
    @umashankar400 Рік тому +1

    Thank you so much 🙏

  • @ajaykerketta8466
    @ajaykerketta8466 Рік тому +1

    Hello Sir, Me Recharge Ka kaam karta hu. usme mujhe upi se balance load karna parta hai, monthly 50k ka recharge sale karta hu. or mere khud ke naam pe current account hai. to isse income tax ka problem hoga??

  • @nextexamlaw3267
    @nextexamlaw3267 Рік тому +1

    Thank

  • @AbdheshKumar-so5lf
    @AbdheshKumar-so5lf Рік тому +1

    Thanks. Sir,

  • @mdomer5439
    @mdomer5439 Рік тому +3

    Sir when is tax audit course going to launch?

  • @bhajanbhaktibhagwan
    @bhajanbhaktibhagwan Місяць тому

    Sir if cash payment above 20000 done on which tcs ia collected by supplier than also whether it is also to added to income of assessee full amount...what is the treatment sir please help

  • @ramudgaryadav2760
    @ramudgaryadav2760 Рік тому +2

    Sir plz with section

  • @curious1245
    @curious1245 11 місяців тому

    Sir supplier(seller) ko maximum limit kya hai cash pay karne ki per day and per year?

  • @user-hs4ep7my4e
    @user-hs4ep7my4e 2 місяці тому

    1Q. Like that main 2 lakh ka invoice banaya and cash receipts 2 lakh kita after 2 days ek hor invoice banaya 2 lakh ka to income tax panelity apply hogi ya nahi

  • @Faisal-nv9yu
    @Faisal-nv9yu Рік тому +1

    Thanks you sir

  • @robishankaradak9380
    @robishankaradak9380 Рік тому +1

    Sir can i receive from a registered customer more than 2 lakhs for many invoices. And receive more than 20000 for many invoices in a single day

  • @sandiplunawat7234
    @sandiplunawat7234 2 місяці тому

    Vehicle insurance cash payment?
    For business allowed,

  • @har8409
    @har8409 Рік тому

    सर, मै हर साल इनकम टॅक्स फाईल करता हू इस साल मैनै एक दिन मैन सविंग बँक मे 450000 कॅश जमा किया तो ? मै एका दिन मै बँक मै कितना कॅश जमा कर सकता हू इनकम टॅक्स मै कोई प्रॉबलम तो नाही होगी? Please solution?

  • @Goforshorts
    @Goforshorts Рік тому +1

    I sold a flat in 17 lacs in which 16 lacs in bank draft & 1 lac in cash. Is this cash transaction is ok?? Please reply

  • @rajestate4364
    @rajestate4364 Рік тому +1

    Sir, agar koi mujhe 30lacs ka amount tranfer kar deta hai mere bank account me (through neft) to kya income tax ka notice aa jayega kya???

  • @user-iy3fp8cv1z
    @user-iy3fp8cv1z 9 місяців тому

    Pdf Link Daliye Sir Please...

  • @amareshmondal498
    @amareshmondal498 Рік тому +1

    Please make video for return of trust

  • @akansha9784
    @akansha9784 Рік тому +1

    Sir, what about cash in divorce case because usually settlement done in lacs in cash mode of payment

    • @mangeshjadhav3372
      @mangeshjadhav3372 Рік тому

      It's not traceable to government so it's not highlighted

    • @Goforshorts
      @Goforshorts Рік тому

      @@mangeshjadhav3372 I sold a flat in 17 lacs in which 16 lacs in bank draft & 1 lac in cash. Is this cash transaction is ok?? Please reply

  • @brgnanendra1378
    @brgnanendra1378 Рік тому +1

    Sir any problem on cash withdrawal

  • @yunusmansuri9567
    @yunusmansuri9567 Рік тому +2

    Sir tax audit extension bs 15 days

  • @metrix95
    @metrix95 10 місяців тому

    Cash purchase Limit ?

  • @dintakurthivenkatarameshba8080

    Can anyone tell me that repayment of the loan using cash over Rs 20,000 is a violation of the rules that belong to a cash transaction as per income tax act

  • @gauravjain9566
    @gauravjain9566 11 місяців тому

    Sir kya main ek cash memo 50000 ka generate kar sakta hoon

  • @RohitJain-gx7xv
    @RohitJain-gx7xv Рік тому +3

    Cash withdrawl include bearer cheque?

  • @ramamoorthysarangapani7258
    @ramamoorthysarangapani7258 Рік тому

    English version pl

  • @jigarthakor8878
    @jigarthakor8878 Рік тому +1

    Me b.cm me study kar rahahu me taxicion keshe kar sakta hu llb me

  • @manoharmehra1033
    @manoharmehra1033 Рік тому +1

    Very well explained as always

  • @vidyarao7930
    @vidyarao7930 Рік тому +6

    Such. Rediculous rules. It Looks like every citizen has to have a C A at everyday transactions. Govt has gone crazy.and has phobia to black money

    • @VIRALPARTS
      @VIRALPARTS Рік тому

      these are all controls techniques governemnt and banks want the entire data so they can control it .... donot fall for it use cash instead in 99% cases

    • @samanthaj1467
      @samanthaj1467 Рік тому

      Please be careful on what you say!
      You can leverage your contention at the time of casting your vote!

  • @nitiii___6673
    @nitiii___6673 Рік тому +1

    Sir cash m agar Salary 10000+ deta ho tb bhi restricitions h kya?

  • @dragonballz3040
    @dragonballz3040 Рік тому +3

    👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻

  • @jeetthakur9615
    @jeetthakur9615 Рік тому

    Plzz sir ji 🙏 help for it

  • @fakeubaby2203
    @fakeubaby2203 Рік тому +1

    Sir cash invoice limit kitna hai

  • @nitiii___6673
    @nitiii___6673 Рік тому +1

    Sir paid course m notes uplod krdo plz ye

  • @Alexandar766
    @Alexandar766 Рік тому +1

    Sir this Rs.20000/- limit is per day or per month or per year

  • @vishwanathsahu5435
    @vishwanathsahu5435 Рік тому

    सर मेरा tds कट गया है exceed cash withdrawal होने पर लेकिन 20%के हिसाब से काटा गया है क्या ये सही है

  • @sujitjoshi180
    @sujitjoshi180 Рік тому

    Court me ya konse bhi kaam ke liye stamp paper lana ho to cash maangte hai government ke log hi. Unke liye koi rule nai, bas sab rule and strictness aam aadmi ke maathe maarna hai aur jo businessman loan leke bhaag jate hai unse paise wasul kar ke unke upar action lene ki himmat nai hoti goverment ki.

  • @pradeepshende9416
    @pradeepshende9416 Рік тому

    Sir transport ke case me kitna cash transaction ke sakte hai? Kyo ki driver ko to cash hi lagta hai plz reply

  • @Armaannk
    @Armaannk Рік тому

    So the conclusion is that the tax officer wont accept any reasons he is interested to issue you a penalty, and banks are allowed to take cash to prove a person wrong later on

  • @aftabhussain4138
    @aftabhussain4138 Рік тому

    Pehle apne 10000 bola tha ab 20000 ho Gya advise me under 40 A3

  • @z-taxconsultancy5861
    @z-taxconsultancy5861 Рік тому

    You disclosed transactions in all his cash

  • @jigarthakor8878
    @jigarthakor8878 Рік тому +1

    Hi sir

  • @niharvora2848
    @niharvora2848 Рік тому

    Me bahut se video dekhaye par ap je video koi nahi banata

  • @safstrolls
    @safstrolls Рік тому

    Plz make english lecture

  • @ravinderdeswal1857
    @ravinderdeswal1857 Рік тому

    Sir bhut jyada diply jate ho

  • @brijendrasingh4526
    @brijendrasingh4526 Рік тому +1

    नोट करलो नोट करलो

  • @brijendrasingh4526
    @brijendrasingh4526 Рік тому +1

    20000 पहले था Present में 10000 ही है, जैसा आप दूसरों को बोलते हो आप खुद पहले रिसर्च कर लो ।

    • @FinTaxPro
      @FinTaxPro  Рік тому

      konse section ki baat kar rake ho?

    • @smomin9935
      @smomin9935 Рік тому

      Sahi to hai
      Cash expenses limit 10000 hai
      Aur loan in cash limit 20000 hai sir

    • @FinTaxPro
      @FinTaxPro  Рік тому

      @@smomin9935 Pata nahi Bijendra n konsa act pad liya :)

    • @rinku9690
      @rinku9690 Рік тому

      expenses matlab ki business expenses ya phir purchase of goods ???

  • @jaishreram423
    @jaishreram423 3 місяці тому

    26:02 😂😂

  • @harrypatel1111
    @harrypatel1111 Рік тому +1

    20000 hi Liya hai to

  • @kanzariyaashvin4228
    @kanzariyaashvin4228 Рік тому

    Please replay

  • @wahisajify
    @wahisajify Рік тому

    Nonsense income tax rule

  • @icat5138
    @icat5138 Рік тому +1

    👌👌👌👌👌👌👌👈

  • @navedaziz3625
    @navedaziz3625 Рік тому

    Sir sabhi penalty sirf receiver par hi h kya ya fir giver par b penalty h ?