Cash payment limits
This query is : Resolved
12 May 2017
Sir,
I have non audit firm. Then can I pay more than 10000 in one day to sundry creditors.
What is the limit of cash payment in one year.
12 May 2017
No, As per section 40A(3) cash payment of more than 10000 is not allowed whether firm is required to get its accounts audited or not.
and Cash payment limit towards an expense is always checked on daily basis and not on yearly basis and limit is 10000
and Cash payment limit towards an expense is always checked on daily basis and not on yearly basis and limit is 10000
Message likes :
1 times
12 May 2017
Do not make cash payment exceeding Rs. 10,000/- to a single person in a single day. It will be disallowed.
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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- HOUSING LOAN ISSUE
- ITR 4 and Bank transactions
- RATE AND HSN CODE
- RELATED TO TRIBUNAL APPEAL
- LIC maturity claim whether taxable
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
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
