Disallowing as per it rule

Tax queries 430 views 4 replies
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manager
44 Points Joined May 2014

Good Morning!.

One of our employees paid Rs. 80000/- as car repair charges in cash, and he is claiming it from the company through reimbursement. As I understand above Rs. 20000/- cannot be paid in cash as per IT regulations.

What happens, if we reimburse this amount to the employee?

Also please clarrify what is disallowing as per income tax rules.

Regards/Suresh

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On 07 July 2014 at 13:38 Report
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Deduction in case of person with disabilty:
Eligible assessee: A resident individual, who, at any time during the previous year, is certified by the medical authority to be a person with diasabilty.

As per my opinion you should get it from Govt Hospital.

 

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On 07 July 2014 at 17:31
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I am really sorry this post not for you... this was for other query.

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On 07 July 2014 at 17:32
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Student as well as Self-employed
3710 Points Joined September 2007
amt. will be disallowed if paid in cash over 20000 in a single day to a single person. if you want to reimburse the exp. then do it through a cheque.
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On 07 July 2014 at 20:11
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manager
44 Points Joined May 2014

Thanking you,

 

Suresh 

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On 08 July 2014 at 12:14


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