cash expenditure in a day
This query is : Resolved
Manoj Jinturkar
(Querist)
05 May 2008
what is the limit of cash expenditure in day as per income tax act.
pl.explain in detail
pl.explain in detail
CA Hemant T Dewani
(Expert)
05 May 2008
not more than rs.20000/-in a single day for each head
Shyam Lal Naik
(Expert)
05 May 2008
There is no such restriction for each head. Rather the celling applies to each payee.
05 May 2008
RS. 20000/- PER DAY FOR EACH PAYEE.
IF YOU PAY RS. 15000/-IN CASH AND BALANCE IN CQ. NO DISALLOWANCE.
R.V.RAO
IF YOU PAY RS. 15000/-IN CASH AND BALANCE IN CQ. NO DISALLOWANCE.
R.V.RAO
Reetika Goel
(Expert)
05 May 2008
Sir, i had read somewhere that the ceiling limit has come down to Rs. 10,000 each day each payee.
Please clarify......
Please clarify......
Amit Sharma
(Expert)
06 May 2008
total of 20,000 per day. Which is applicable u/s 40(a)(3).
Above that it will be disallowed.
Above that it will be disallowed.
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