cash payment

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 May 2010 what is cash payment limit in respect,

actually we have paid Rs. 21,200 cash payment of car insurance with Icici lombard is valid or not
pls mention act.
We have a limited company.

25 May 2010 Payment by cash more than Rs.20000/- sec.40A(3) will attract and the expenses will be disallowed

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 May 2010 Thank u Sir,
But in case of govt payment(is that ICICI Lombard Insurance Co.) is is allowed or not.

please write me.

26 May 2010 ICICI Lombard is not Govt department or organisation


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