Cash exp.
This query is : Resolved
Bhavnesh hadiyel
(Querist)
05 October 2013
how much cash payments should be given in a day for cash expenses.
CA Vijeta Verma
(Expert)
05 October 2013
maximum 20000/day in general and 35000/day to transporter,subject to exceptions of rule 6DD.like if the payment is made to government/RBI/SBI or any of its subsidary or payment is made for some forest and agricultural produce or on account of bank holiday.
For more information,go through this link
https://www.simpletaxindia.net/2009/12/payment-exceeding-20000-40a3-exceptions.html
For more information,go through this link
https://www.simpletaxindia.net/2009/12/payment-exceeding-20000-40a3-exceptions.html
CA Pallav Singhania
(Expert)
05 October 2013
Agree with Expert,
As per Sec 40{a}3 of the IT Act..
Where the assessee incurs any expenditure in respect of which a payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft, exceeds {20000} twenty thousand rupees, no deduction shall be allowed in respect of such expenditure.
As per Sec 40{a}3 of the IT Act..
Where the assessee incurs any expenditure in respect of which a payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft, exceeds {20000} twenty thousand rupees, no deduction shall be allowed in respect of such expenditure.
Ganeshbabu K
(Expert)
07 October 2013
1)No cash payment should be made more than 20000 for single person in a single day..(for payment of frieght for goods in business allowed up to 35000)
.
.
Kindly refer to Exceptions to Rule 6DD for Exceptions in a case where cash payments will be allowed
.
.
Kindly refer to Exceptions to Rule 6DD for Exceptions in a case where cash payments will be allowed
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Tax on Amount transferred in HUF Account
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
