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Cash deposit in bank

This query is : Resolved 
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(Querist)
15 May 2013 I HAVE MADE PAYMENT TO PARTY IN CASH . I HAVE DEPOSITED CASH ON HIS BANK A/C . IT IS TAXABLE PUNISHMENT ? I HAVE NOT PAID DIRECTLY CASH . I HAVE DEPOSIT CASH IN PARTY'S BANK A/C .
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CA rohit swami

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CA rohit swami (Expert)
15 May 2013 U/S 40A OF I.T ACT SAY ABOUT CASH PAYMENT EXCEED 20000 RS SO PLZ ENSURE ABOUT RS. LIMIT THAT YOU HAVE DEPOSITED IN PARTY'S BANK A/C DIRECTLY. REFER SECTION IN ACT.

FAIL TO COMPLY WITH RULES MAY DISALLOW YOUR PAYMENT.
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