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Cash payment above 20000/-

This query is : Resolved 

One of Our client who is a distributor, purchase Milk from manufacturer Rs.200000/-through cash.whehther this amount can be allowed or not.(whether exception rule 6DD applicable in this case as a Dairy prduct) pls give me a clarification

No such exception, One day limit is exceeds Rs.20000/- it will be disallowed

This will be disallowed any cash payment in excess of Rs 20000 to be disallowed as per the Income Tax Act.

not allowed

it will not allowed

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