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Cash payment exceeding rs. 35000

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Querist : Anonymous

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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.
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CA. RICHI SAXENA

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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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