Cash payment exceed to limit
This query is : Resolved
santosh shrivastava
(Querist)
16 September 2013
Dear Sir, I want to know if I make a payment of Margin money in a finance company in cash of Rs.2.5Lac can it disallowed.please give me suggestion.
Can we Deposit (Margin Money) in Cash of 1.5 Lac in single day( we have entered 20000-20000 7 vouchers 10000 1 voucher it is ok or wrong)
Can we Deposit (Margin Money) in Cash of 1.5 Lac in single day( we have entered 20000-20000 7 vouchers 10000 1 voucher it is ok or wrong)
CMA Ramesh Krishnan
(Expert)
16 September 2013
Margin money is the nature of deposit. cash payment exceeding Rs.20000 will be disallowed only the expenses claimed in the p&l a/c. so you query margin money in the deposit sec.40A(3) will not apply
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