cash advances to ship crew for more than 20000/-

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Srinivas R (Querist)
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29 June 2011 Dear All,

Kindly explain whether we can pay cash towards advance to vessel crew (Indian/foreign) for more than Rs.20,000/-? which is not allowed in regular transactions.

Srinivas Regani

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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29 June 2011 You have to analyse the thing. What for the advance has been given. It is for the purpose of the business and it can be treated as Petty Cash for any expenses incurred in course of selling the vessel for which the vessel crew will render the account. It is not a direct expense. Kindly broaden your question proper reply can further can be given.

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