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Cash payments limit

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(Querist)
27 January 2009 Hi,
I just want to know whether any cash payment made to a single party of more than Rs.20000 is disallowed when such payments are made to that party in many installments but on the same day.
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
27 January 2009 Yes. Now it is disallowed even if payment is made in installments during a single day.
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
27 January 2009 And now 100% of the expense is disallowed instead of 20% as earlier.



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rathish kumar.c.c

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rathish kumar.c.c (Expert)
27 January 2009 cash payment over and above 20000 is disallowed 100% as against 20% in early years

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