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cash purchase

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(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?
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Nikhil Kaushik

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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/-
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sushil jaiswal

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sushil jaiswal (Querist)
14 June 2017 sir if i dont have the capacity to pay at one go,then also i cant split?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
14 June 2017 then pay through cheque or online transfer...
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sushil jaiswal

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sushil jaiswal (Querist)
14 June 2017 ok sir,thanks for the valuable suggestion.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
14 June 2017 you are most welcome....
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