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Regarding Cash transaction

Dhanashree Lashkare

Can i Received Cash in one day from one person above 20,000/-

Cash transaction limit guidance conflicts: one view mandates cheque or demand draft, another permits cash receipt. Whether a person may receive cash in a single day from the same payer above the stated threshold is contested: one reply advises receipt only by cheque or demand draft, while another says cash receipt is permitted, demonstrating conflicting guidance on permissible payment methods for substantial receipts. (AI Summary)
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DR.MARIAPPAN GOVINDARAJAN on Mar 7, 2015

It is only by means of cheque or demand draft.

Mahir S on Mar 8, 2015

Yes, receipt allowed ..

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