Cash payment
This query is : Resolved
19 November 2010
Is the cash payment exceeding 20,000 or 35,000 (as the case may be) is against per invoice or it is maximum amount payable to any party in one day ????
Plz provide the reference also (if possible)
for e.g 1st bill - Rs.15,000
second bill- Rs.15,000
One payment on a single day Rs.30,000....
Is it allowed ?????????
Plz provide the reference also (if possible)
for e.g 1st bill - Rs.15,000
second bill- Rs.15,000
One payment on a single day Rs.30,000....
Is it allowed ?????????
CA Sanat Pyne
(Expert)
19 November 2010
YES IT IS ALLOWED.
MAXIMUM LIMIT SHOULD BE CONSIDERED PER BILL BASIS.
MAXIMUM LIMIT SHOULD BE CONSIDERED PER BILL BASIS.
19 November 2010
But i had heard that now the sec is amended & now it is on per day basis ???????
Is it correct ?????????
Is it correct ?????????
CA Sanat Pyne
(Expert)
19 November 2010
NO THERE IS NO AMMENDMENT AS YET.
CA.ViVeK M ACA
(Expert)
19 November 2010
Maximum cash payment can be made up to 20,000/- whether it is single or a consolidated basis.
CA Sanat Pyne
(Expert)
19 November 2010
VIVEKJI
PLEASE CHECK
V .K SINGHANIA'S DIRECT TAX LAW & PRACTISE
PAGE NO 400,
148 P1 PROB NO 3.
PLEASE CHECK
V .K SINGHANIA'S DIRECT TAX LAW & PRACTISE
PAGE NO 400,
148 P1 PROB NO 3.
19 November 2010
agree with sanatji
CA.Madhusudan B.P.
(Expert)
19 November 2010
Agreed with Sanat, The payment may even exceed Rs.20000/- if the bill amount is less than Rs.20000/-
Eg. 1 st Bill amount Rs.12000
2nd Bill amount Rs. 13000
Cash of Rs. 25000 may be paid on single day for the above mentioned bills
Eg. 1 st Bill amount Rs.12000
2nd Bill amount Rs. 13000
Cash of Rs. 25000 may be paid on single day for the above mentioned bills
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