Cash payment above rs 20000/- belowrs 35000/-

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 February 2015
What are circumstances/cases on which CASH PAYMENT can be made more than Rs 20000/- but below Rs 35000/-

and

is permitted under sec 40A(3) of the Income Tax Act.

How it will be paid so that No disallowance will be made.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

10 February 2015 If payment is being made for plying, hiring or leasing goods carriages then Limit for these section is Rs 35000/-,instead Of 20000/-

Rupesh Jain

Rupesh Jain (Expert)
Follow

10 February 2015 you can make payment to transporter above rs. 20000/- up to rs. 35000/-

Querist : Anonymous

Querist : Anonymous (Querist)

15 February 2015 YEST,

The word TRANSPORTER is not available in above three heads.

leasing of goods carriage means what.

can it be treated as TRANSPORTER bringing goods to the purchaser payment made in CASH upto RS 35000/-.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

16 February 2015 Plying goods carriage means transporting goods to purchaser for which payment may be made in cash up to Rs 35,000. Leasing means hiring.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now