Cash purchase

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Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2015 we are in constructions business...

i have purchase steels with vat..... by cash Rs. 45000 /

but auditor said only Rs.30000 / u have to use cash in one transaction....

otherwise u purchased that one is dissolved... which one is correct experts....

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 March 2015 do not purchase anyhting in cash exceeding rs 20,000 for business purpose else will be disallowed u/s 40(a)

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Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2015 thanks for your immediate rly expert..

the amount of rs.40000. same creditor i have to split two bills it's acceptable.. or not...

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 March 2015 upto 20,000 in a days cash transaction with a party no problem.

Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2015 Thanking you, sir.....

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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16 March 2015 you are welcome friend...................

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