Cash payment above 20000/-
This query is : Resolved
Muthu Aravind
(Querist)
03 June 2010
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
CMA Ramesh Krishnan
(Expert)
03 June 2010
No such exception, One day limit is exceeds Rs.20000/- it will be disallowed
Message likes :
2 times
04 June 2010
This will be disallowed any cash payment in excess of Rs 20000 to be disallowed as per the Income Tax Act.
Message likes :
1 times
CMA Arif Farooqui
(Expert)
09 June 2010
not allowed
ajay taneja
(Expert)
15 June 2010
it will not allowed
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