Cash Payment excess of 20,000 for purchase of land
This query is : Resolved
30 May 2011
A company who does real estate business can make cash payment in excess of Rs 20,000 for purchase of land?Land will be purchased for the purpose of constructing building on it.
30 May 2011
For real estate business land is forming part of the trading asset of the company and a such it is advisable to make such payment by account payee cheques only.
03 June 2011
Sir,if the company is making cash payment for the same,it will be disallowed ?
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