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Cash payment exceeds more than 20,000/-

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 September 2014 Dear experts,

I want to know that if foreign currency purchase by an assesse ( not being money exchanger/authorized dealer) i.e normal businessman more than rs. 20,000/- . is it allowed or not.

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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
18 September 2014 only exp excedding rs 20,000 paid in cash are disallowed.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
18 September 2014 since currency purchase wont reflect as an expense, so this should not be disallowed.
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