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Cash payment exceeding 20000

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Sairam (Querist)
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12 September 2012 the auditor in the firm says since it is used for transport purposes it is exempt from tax till 35000

CA Sripal Jain

CA Sripal Jain (Expert)
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12 September 2012 he is correct,the act has been amended and 35k it is exempt

SANYAM ARORA

SANYAM ARORA (Expert)
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12 September 2012 Yes he is correct. In general the limit is 20,000 but in case of transporter it is 35000

CA Amit Rajput

CA Amit Rajput (Expert)
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12 September 2012 Yes only for transporter a separate limit of 35000 is assigned.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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07 October 2021 https://taxguru.in/income-tax/payment-in-cash-to-transporters-upt0-35000-allowed-from-01-04-2009.html

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