Cash payment to coustomer

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Prashant Kumar Gupta

Prashant Kumar Gupta (Querist)
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31 May 2012 I WANT TO KNOW THAT THERE IS ANY LIMIT FOR CASH PAYMENT TO CUSTOMER.
IF YES THEN TELL ME WHAT IS THE LIMIT

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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31 May 2012 Why would make payment to a customer?

payment will normally be paid to a creditor.

If payment for an expense is amde in Cash in excess of Rs. 20,000 the same is disallowed u/s 40A(3).

Prashant Kumar Gupta

Prashant Kumar Gupta (Querist)
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31 May 2012 CAN WE PAID TO CUSTOMER / OTHER AS REFUND.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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31 May 2012 Yes you can refund the excess amount paid by a customer in cash. There is no limit regarding cash payments in such cases.

Prashant Kumar Gupta

Prashant Kumar Gupta (Querist)
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23 May 2013 COUSTOMER DEPOSITED 1,20,000/- AND AFTER SOME DAYS HE WAHT TO REFUND ALL AMOUNT REFUND AS CASH.
CAN WE PAID ALL AMOUNT IN CASH

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