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Cash payment exeeding rs 20000

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(Querist)
15 September 2012 If a Person have two Proprietorship firms. so can he make payment of rs. 500000 to his second proprietorship firm from his first proprietorship firm.
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CA Lokesh Pokharna

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CA Lokesh Pokharna (Expert)
15 September 2012 payment more than 20000 in cash not allowed either it for expenses or loans & advances.
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Pankaj Gupta

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Pankaj Gupta (Expert)
15 September 2012 Such payment will be disallowed.
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