Daily exp on labour
This query is : Open
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
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
(Expert)
06 October 2017
Yes you can show as payment to each person will not exceed 10,000.
Message likes :
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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)
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)
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
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
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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