Cash limit for advance to employees
This query is : Open
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Magesh Varadarajan
(Querist)
16 February 2022
What is the cash limit for advance to employees as per the income tax
CA Puja Sharma
(Expert)
16 February 2022
You can pay an advance upto Rs. 10,000 in cash to an employee at a time. Because if you will be adjusting the advance with the salary expenditure in future.
Magesh Varadarajan
(Querist)
16 February 2022
If I pay 1,50,000/- pay advance by cash to employee, whether any impact on income tax for the balance amount 1,40,000/- even thou I have deducting by month from the salary expenditure.
Magesh Varadarajan
(Querist)
16 February 2022
If I pay 1,50,000/- pay advance by cash to employee, whether any impact on income tax for the balance amount 1,40,000/- even thou I have deducting by month from the salary expenditure.
Magesh Varadarajan
(Querist)
16 February 2022
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