Sir
Our logistics company daily releases 4 to 5 truck for long destination.At the time of release the vehicles we have to make cash payments more than ₹ 10000/- in advance against the Lorry Challan. Now i would like to know what will be the consequence as we cross the threshold limit of ₹ 10000/?
With thanks
Samik Chaudhuri.
Logistics Firm Seeks Clarification on Consequences of Exceeding $10,000 Cash Payment Limit Under Income Tax Rules A logistics company frequently makes cash payments exceeding 10,000 in advance for releasing trucks for long-distance trips. The inquiry seeks clarification on the potential consequences of surpassing the 10,000 threshold limit for cash transactions, as per income tax regulations. (AI Summary)