Cash payment of more than 20000
This query is : Resolved
Sayan Gupta
(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
30 December 2017
please refer section 40A (3)...
And also refer 269SS and 269ST...
Message likes :
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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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