Cash payment over rs.20,000
This query is : Resolved
08 December 2011
If an employee of a pvt. ltd. company made a payment of Rs.40,000 by his personal credit card towards single invoice of hotel food expenses ( for company party) and company reimburse the same expense in cash. Does it comes under rule of cash payment above Rs.20,000. please confirm.
Thanks in advance.
Arun Jain
Thanks in advance.
Arun Jain
08 December 2011
Yes it comes under 40(A)3, Reimbursement does not alter the color of expense.
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