Cash Payment for Farmers
This query is : Resolved
Nayeemulla S H
(Querist)
02 April 2022
Sir/Madam,
Respected Professionals
As ours is Rice mill business, we purchase paddy from Farmer, almost all farmers not received bank payment they need cash, for this we have to made payment by cash. Is there any threshold limit for this and any TDS applicable on this transaction. If cash payment allowable then any threshold limit.
Respected Professionals
As ours is Rice mill business, we purchase paddy from Farmer, almost all farmers not received bank payment they need cash, for this we have to made payment by cash. Is there any threshold limit for this and any TDS applicable on this transaction. If cash payment allowable then any threshold limit.
02 April 2022
Cash payment allowed less than 2 lacs under section 269ST.
TDS applicable if purchase value exceeds 50 lacs.
TDS applicable if purchase value exceeds 50 lacs.
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