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Daily Cash Payment Limit

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 January 2011 Please tell me, what is daily cash payment limit by a company?????
is it for a single person or agreegate payment in a single day?????
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CMA. Dinesh S Adhikari, ACMA

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CMA. Dinesh S Adhikari, ACMA (Expert)
24 January 2011 Limit is Maximum upto Rs. 20,000 and this is applicable as that any single person should not be paid more than Rs. 20,000 in a single day in aggregate against a single bill.

However, there are certain exceptions given under rule 6DD, please go through those exceptions also.

from 2010 if you can pay upto Rs. 35,000 to any transport company.

Regards!!!
Dinesh S. adhikari
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Guest (Expert)
24 January 2011 I do agree
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