Cash payment in excess of rs. 20,000
This query is : Resolved
Arun Trivedi
(Querist)
08 August 2011
Can any one tell me regarding payment in excess of Rs. 20,000 in cash to the creditor or for the purpose of payment of salary.
CA PARAS BAFNA
(Expert)
08 August 2011
The expenditure is disallowed under Section 40A(3). However if the payment is covered by Rule 6DD it may not be disallowed.
Arun Trivedi
(Querist)
08 August 2011
Sir plz explain me some detail regarding rule 6DD, i m so thankfull to you.
CA. Anoop Gadia
(Expert)
08 August 2011
Direct day payment more than 20,000 thousand is 100% disallowed. But we can break these payment in no. of days (for Exp. only)
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