A company can give in cash

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 August 2014 A company can give in cash more than RS. 20000 in cash if employee goes on traveling for official purpose. if company paid him to cash then affix revenue stamp of Re. 1 is mandatory on making Bill.

CA UMESH DULAL

CA UMESH DULAL (Expert)
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18 August 2014 If it is giving the cash as advance to cover the travelling where final account is settle after submitting the bills, then it can.

otherwise the expenses are disallowed to the extend of 30%.

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CA UMESH DULAL

CA UMESH DULAL (Expert)
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Querist : Anonymous

Querist : Anonymous (Querist)

18 August 2014 sir , just i want to know that the payment in cash above 20000 then it can be disallowed as per income tax act.

CA UMESH DULAL

CA UMESH DULAL (Expert)
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19 August 2014 yes it is disallowed

CA UMESH DULAL

CA UMESH DULAL (Expert)
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19 August 2014 yes it is disallowed

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