Cash Payment
This query is : Resolved
03 March 2010
Can A Director (P. Ltd. Com.) Payment in Cash Rs.20000/- or more pay or not ?
03 March 2010
any payment in cash in excess of Rs 20000 to a signle party would attract the provisions of disallowances under the Income tax act.....other than those payable to statuturoy payments as specififed under section 40 A(3) of the IT act 1961...
03 March 2010
Yes.Section 40A(3) applicable even you are paying to Director
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