Cash payment more than rs. 20000/-
This query is : Resolved
26 June 2015
Hello All,
A company can not pay rs. 20000 to a party in a same day. But when we have to purchase something for office in another city and this is expenses i.e. spare parts for machine etc. and have to pay immediately because that party is not our supplier. So in that case what should we do? Can we pay more tha limit: i.e. rs.100000
A company can not pay rs. 20000 to a party in a same day. But when we have to purchase something for office in another city and this is expenses i.e. spare parts for machine etc. and have to pay immediately because that party is not our supplier. So in that case what should we do? Can we pay more tha limit: i.e. rs.100000
CA Prasanna Ojha
(Expert)
26 June 2015
You can pay but you will not allowed to claim same as a deduction from Income tax department.but there is also a way u should pay on holiday nd after that u should apply for new chaque book. you should have the valid reason for do that
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29 June 2015
Sir,
If payment made for diesel used for genset for construction company, so it is also disallowed?
If payment made for diesel used for genset for construction company, so it is also disallowed?
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