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CASH PAYMEN ENTRY

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 September 2010 WE BOUGHT RAW MATERIAL ITEM IN CASH FOR AMOUNT 50000/- ON SAME DAY ,SUPPLIER INVOICING US IN THREE INVOICE AS 17000/-,17000/-,16000- FOR SAMEDATE WE PAID SAME AMOUNT ON SAME DAY & I PASSED ENTRY ON SAME DAY IN THREE SEPRATE VOUCHERS. IS IT CORRECT OR ITPOINT OF VIEW?
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CA SMR

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CA SMR (Expert)
05 September 2010 YES
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
05 September 2010 yes. Sec.40A(3) applicable even aggregate payment made by cash more than Rs.20000 in a day
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 September 2010 Sir please be specify that entry which i made on same day is correct or i should rectify & make new entry below 20000 payment on various day
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
05 September 2010 Please pay in different days, not in single day, otherwise Sec 40A(3) applicable.
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