About cash entry

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2012 we made a cash entry of travelling expenses of rs.25000 in pvt ltd company.
so it is right or wrong and what should we do

Anil Verma

Anil Verma (Expert)
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25 July 2012 It depends:
If you are paying for petrol/ diesel against one combined bill of different dates where amount of per bill is less than Rs. 20K than allowed.
In other case- dis-allowed.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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25 July 2012 Single cash entry of Traveling expenses will attract sec.40A(3) of Incometax act. subject to rule 6DD. unless the provided voucher has consolidated small vouchers less than Rs.20000 or expenses consolidated as different dates