Daily exp on labour

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sanjay (Querist)
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06 October 2017 Sir
I am a work contractor. Can I show the labour charges on daily basis above 10000/-. Pl advise.
Suppose I have to pay labour charges to daily workers of rs.20000/- can it be possible to show in the books of accounts the total amount of Rs.20000/- in one day?
Regards

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 October 2017 Yes you can show as payment to each person will not exceed 10,000.

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RAJA P M

RAJA P M (Expert)
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06 October 2017 Yes...
I agreed with Our Great Expert Mr. CA R SEETHARAMAN Sir.,

You can give less than Rs. 10000 to one person. If 10 person you can give 10000 to each person (Rs. 100,000)

sanjay

sanjay (Querist)
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06 October 2017 Sir
In this case will I require to keep records of labour charges paid on daily basis for income tax purpose. My firm is a proprietorship. Pl advise.
Regards

RAJA P M

RAJA P M (Expert)
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06 October 2017 Yes... It's your wish maintain accounts as peaceful.... In case your IT is u/s 44 AA and AB then you must follow the way....

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