Amount more than 20000 in cash
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 July 2012
whether amount is deducted under income tax act if it is paid more than 20000 to single person with different invoice in same day?
13 July 2012
Yes, expense is available for deduction even if payment is made in excess of Rs. 20000 but the invoice is for less than Rs. 20000
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