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About cash entry

This query is : Resolved 

Querist : Anonymous


Querist : Anonymous (Querist)
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


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.

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

Querist : Anonymous


Querist : Anonymous (Querist)
Respected Sir, Thanks a lot
thank u very much.


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