Cash payment
This query is : Resolved
06 April 2015
i have saw on quarry on 04.04.2015, by anusha, regarding the rent deposit in cash rs.58000, shall we make the cash payment above 20000?
06 April 2015
No. For cash payment above Rs 20000/- provision of Section 40A(3) will be attracted and expenses will be disallowed.
For salaried individuals making cash payment in excess of Rs 20000/- there will not be any issue.
For salaried individuals making cash payment in excess of Rs 20000/- there will not be any issue.
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