Making a big cash payment? Know the tax rules1 min read . Updated: 02 Jul 2021, 07:20 PM IST
No person is allowed to receive a sum of Rs. 2,00,000 or more, from a person in a day or in respect of a single transaction or in relation to one event or occasion, in cash or an impermissible mode
Q. My daughter is getting married in November 2021, I need to pay the booking amount to the hotel, and other parties. Can I pay this entire amount in Cash as I have some excess cash lying with me or is there any restriction on cash payment? Naresh Gupta (Mumbai)
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