Cash transaction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 September 2016 DEAR EXPERTS..

IF I M PAYING SALARY OF RS 45000/- CASH TO MY EMPLOYEE IN SINGLE DAY AS PER BELOW
MR A : 15000, MR B 15000 AND MR C 15000 =45000/-

SO ITS MORE THEN RS 20,000/- PER DAY

SO THIS EXPENSES IS ALLOWABLE OR NOT ?????

Sandeep Dharar

Sandeep Dharar (Expert)
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10 September 2016 Since the salary is paid to 3 separate employees, and the amount is below 20K, hence the amount is fully allowable as per income tax act. Please b sure that there are 3 different payment vouchers for the 3 individuals.

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