Cash Payment
This query is : Resolved
14 October 2010
As per section 40A(3) can we pay Cash Rs.19999/- to single person on daily basis thought the year?
sudhakar ca cwa
(Expert)
14 October 2010
ya we can pay as per 40A(3)
BUT IF IT IS LOAN THEN 269 WILL COME THEIR WE CAN'T PAY
BUT IF IT IS LOAN THEN 269 WILL COME THEIR WE CAN'T PAY
sudhakar ca cwa
(Expert)
14 October 2010
u can pay
bt income tax dept may question u at the time of assessment
better dnt do lke dt.
pay by crossed cheque only suggestable.
bt income tax dept may question u at the time of assessment
better dnt do lke dt.
pay by crossed cheque only suggestable.
14 October 2010
In actual practice I m not going to make cash payments on daily basis. but for the some extend i.e. Rs. 200000 / 19999.00 in the whole year to single person. is that ok.
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