Cash payment >20,000/- to capital work contractor (labour)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 June 2014
We Are Paying the Cash to Civil work contractor for work done by him by Labor
Amount is Rs.100000/-
we will pay the cash to contractor then contractor pay to labour, we will receive the bill from contractor tds deducted 1% on Rs.100000/-
It Is Accepted in Single Voucher or Not
Amount is Rs.100000/-
we will pay the cash to contractor then contractor pay to labour, we will receive the bill from contractor tds deducted 1% on Rs.100000/-
It Is Accepted in Single Voucher or Not
05 June 2014
Dear,
If contractor is issuing invoice to you and you are also deducting TDS then i recommend you to pay by banking channel whatever it is like cheque, Demand draft, online transfer or wire transfer.
if you incur any cash expenses in excess of 20,000/- then you should Pay by banking channel only. otherwise it is disallowed in the Income tax act and you need to pay tax on that along with interest and penalty.
If contractor is issuing invoice to you and you are also deducting TDS then i recommend you to pay by banking channel whatever it is like cheque, Demand draft, online transfer or wire transfer.
if you incur any cash expenses in excess of 20,000/- then you should Pay by banking channel only. otherwise it is disallowed in the Income tax act and you need to pay tax on that along with interest and penalty.
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
- CAPITAL GAIN BASE ON NOTIFICATION
- NRI starting business in India
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- FCRA 6 E- Intimation
- GST not cancelled by tenant
- FORM 141 SDV query
- EXPORT COMMERCIAL INVOICE HSN CODE
- Non-Compliance documents have not been submitted by the contractors debited
- Invertaded duty struture
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
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
