Cash payment limit u/s 40
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 April 2015
Hello sir
I am in a trading business. When I purchase goods i have to pay freight of Approx. 80000/- in cash to the truck driver when he gives me Builty.
Please suggest me what are the maximum limit upto which i can pay in cash without attracting any disallowance and applicablity of any TDS provision on it.
please provide practical solution.
THANKS
I am in a trading business. When I purchase goods i have to pay freight of Approx. 80000/- in cash to the truck driver when he gives me Builty.
Please suggest me what are the maximum limit upto which i can pay in cash without attracting any disallowance and applicablity of any TDS provision on it.
please provide practical solution.
THANKS
07 April 2015
Bifurcate the amount in 4 tranches none should exceed 30000 if you have the pan no. Then no of transporter then need not deduct tds.
09 April 2015
Sir would you please explain why less than 30000 ?
Thanku
Thanku
11 April 2015
For transporters maximum amount which can be paid in cash without attracting disallowance u/s 40A(3)is Rs. 35000/-.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Rental income of jointly held property
- FEMA regulation Act. for inward remitance
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
