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CASH PAYMENTS ABOVE Rs. 20,000/-

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This query is : Resolved

rajesh (Querist)
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15 June 2009 DEAR SIR/MADAM

ABOVE 20,000/- CASH PAYMENTS IS DISALLOWED ONLY PROFIT AND LOSS A/C REFLECTED ITEMS OR INCLUDING THESE ITEMS ALSO LIKE TRADE CREDITORS, SUNDRY CREDITORS,GIFTS PAID,SUNDRY DEBTORS LIKE LOANS GIVEN TO OTHERS AND CAPITAL EXPENSES LIKE DAUGHTER MARRIAGE EXPENSES DR IN CAPITAL ITS ALSO PAID ONLY CHEQUE ABOVE TWENTY THOUSAND PLEASE TELL

THANKS IN ADVANCE

Aditya Maheshwari

Aditya Maheshwari (Expert)
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16 June 2009 Payment to TRADE CREDITORS, SUNDRY CREDITORS,GIFTS PAID, disallowable as in the end the same are debited to P & L A/c. If gifts are debited to capital a/c then since no expenses claimed no disallowance.

SUNDRY DEBTORS - No as you receive money from them not pay

LOANS GIVEN TO OTHERS - 269SS & 269T provisions apply so not possible.

CAPITAL EXPENSES LIKE DAUGHTER MARRIAGE EXPENSES DR IN CAPITAL - since no expenses claimed no disallowance.

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