Cash payment related
This query is : Resolved
02 April 2017
If an invoice raised is of Rs 100000/- then cash payment for same is allowable to the extent of Rs 10000/ or Rs. 100000/
varsha naik
(Expert)
02 April 2017
Reduction in Limit under section 40A(3A)
Cash payment limit has been reduced from Rs. 20000 to Rs. 10000
If any person pays in cash exceeding Rs. 10000 in a day shall not be allowed as deduction in computation of Income from "Profits and gains of business or profession"
Cash payment limit has been reduced from Rs. 20000 to Rs. 10000
If any person pays in cash exceeding Rs. 10000 in a day shall not be allowed as deduction in computation of Income from "Profits and gains of business or profession"
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Dhirajlal Rambhia
(Expert)
24 October 2021
Only upto Rs. 10,000/- Balance should be paid through banking channel.
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