Cash payment
This query is : Resolved
07 July 2012
Dear Sir,
I would like to know that the cash limit of a supplier is to what extent a company can pay in a financial year for a job work & supplier
Job work cash limit per anum paying below 20000/- per day
Supplier cash limit per anum paying below 20000/- per day
Regards
Raj Kumar
I would like to know that the cash limit of a supplier is to what extent a company can pay in a financial year for a job work & supplier
Job work cash limit per anum paying below 20000/- per day
Supplier cash limit per anum paying below 20000/- per day
Regards
Raj Kumar
07 July 2012
Dear Raj Kumar
40A(3) limit is not annually. this is for per day transaction. you can't pay any expense which exceed 20,000/- in a day. you must pay it by A/c Pay cheque.
35,000/- in case of payment made for hiring or leasing goods carriages.
every day you can pay 20,000/- full year. NO problem in that.
Same sec applicable on Job work and supplier no diff.
40A(3) limit is not annually. this is for per day transaction. you can't pay any expense which exceed 20,000/- in a day. you must pay it by A/c Pay cheque.
35,000/- in case of payment made for hiring or leasing goods carriages.
every day you can pay 20,000/- full year. NO problem in that.
Same sec applicable on Job work and supplier no diff.
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