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Cash payment exceeding 20000

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(Querist)
12 September 2012 the auditor in the firm says since it is used for transport purposes it is exempt from tax till 35000
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CA Sripal Jain

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CA Sripal Jain (Expert)
12 September 2012 he is correct,the act has been amended and 35k it is exempt
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SANYAM ARORA

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SANYAM ARORA (Expert)
12 September 2012 Yes he is correct. In general the limit is 20,000 but in case of transporter it is 35000



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CA Amit Rajput

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CA Amit Rajput (Expert)
12 September 2012 Yes only for transporter a separate limit of 35000 is assigned.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
07 October 2021 https://taxguru.in/income-tax/payment-in-cash-to-transporters-upt0-35000-allowed-from-01-04-2009.html

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