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Cash payment to coustomer (Accounts)

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This query is : Resolved


( Author )
31 May 2012

 I WANT TO KNOW THAT THERE IS ANY LIMIT FOR CASH PAYMENT TO CUSTOMER.
IF YES THEN TELL ME WHAT IS THE LIMIT


Siddhartha Bhardwaj

( Expert )
31 May 2012

 Why would make payment to a customer?

payment will normally be paid to a creditor.

If payment for an expense is amde in Cash in excess of Rs. 20,000 the same is disallowed u/s 40A(3).


Prashant Kumar Gupta

( Author )
31 May 2012

 CAN WE PAID TO CUSTOMER / OTHER AS REFUND.


Siddhartha Bhardwaj

( Expert )
31 May 2012

 Yes you can refund the excess amount paid by a customer in cash. There is no limit regarding cash payments in such cases.



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