cash purchase
This query is : Resolved
sushil jaiswal
(Querist)
14 June 2017
I have made a purchase of rupees 120000 from my creditor in a single bill and I have paid him in cash with an amount of rupees 20000 each at 6 different dates . Will the payment be allowed?
Nikhil Kaushik
(Expert)
14 June 2017
splitting of payments is not legal as far as the disallowance for cash payment is concerned. further the limit for cash payment now stands at Rs 10000/-
sushil jaiswal
(Querist)
14 June 2017
sir if i dont have the capacity to pay at one go,then also i cant split?
Nikhil Kaushik
(Expert)
14 June 2017
then pay through cheque or online transfer...
sushil jaiswal
(Querist)
14 June 2017
ok sir,thanks for the valuable suggestion.
Nikhil Kaushik
(Expert)
14 June 2017
you are most welcome....
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