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Cash payment of more than 20000

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(Querist)
30 December 2017 What are the consequences of making a cash payment of more than Rs. 20000/- to any vendor on a day?? Rply urgently
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RAJA P M

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RAJA P M (Expert)
30 December 2017 please refer section 40A (3)... And also refer 269SS and 269ST...
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CA Suresh Jain

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CA Suresh Jain (Expert)
01 January 2018 The expenditures shall not be allowed in Income tax. The limit is reduced to Rs. 10,000/= applicable from AY 2018-19
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