Cash transactions - Q & A Forum

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Suresh87 asked 9 years ago

Hello sir, I'm a wholesale medical dealer supplying medicines to retailers,doing cash transactions around 2000rs per invoice per day per shop i.e approx 6lakhs per year per shop.Is it necessary to receive payments through cheque as it is exceeding 2lakh rupees?Retailers are insisting me to take cash for each bill. please help me.

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Sreekanth Staff answered 9 years ago

Hi, Advisable to get these transactions done through banking system as much as possible. Read : https://www.relakhs.com/rs-2-lakh-cash-transaction-limit/