banner_ad

Cash payment above 35000 in a day

This query is : Resolved 
Profile Image

Profile Image

(Querist)
29 March 2013 1) 1.2.13 mr. x pay to balaji transport rs 16000 l.r. no 456 and also pay 29000 rs l.r. no. 458 in same day it is allowd or not
2) capital assets purchase and cash paid above 20000 it is allowed.
Profile Image

kunal

Profile Image

kunal (Expert)
30 March 2013 limit of RS 20,000 is applicable on only revenue expenditure not on capital expenditure..

and in first case it will be disallowed as for transporters limit is Rs 35,000

refer section 40A(3).
Profile Image

gaurav g. patel

Profile Image

gaurav g. patel (Querist)
30 March 2013 yes i know that 35000 limit but in the act they provide that if any diffrent bill is there then it shuold b allowed and if one bill and diffrent payment in the day then dissallow
Profile Image

C A S.S.Agarwal, M.Com.,LL.B,

Profile Image

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
22 May 2013 Yes both of you are correct. Different bill means not of the same party so do not get confused.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details