Cash payment exceeding rs. 35000
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2012
Dear all members
I want to ask that if a company gives advance of Rs. 100000/- to his employee through cheque & after 30 days his employee( from fund received) paid in cash of Rs. 65230 to a transporter, then whether it should be considered as allowed expenditure or not.
I want to ask that if a company gives advance of Rs. 100000/- to his employee through cheque & after 30 days his employee( from fund received) paid in cash of Rs. 65230 to a transporter, then whether it should be considered as allowed expenditure or not.
CA. RICHI SAXENA
(Expert)
23 May 2012
This expenditure will not be allowed to be deducted while calculating profits/losses for income tax purposes.
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