disallowance of cash payment

This query is : Resolved

CA Abhishek Singh (Querist)
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10 February 2009 if i have Rs. 25000 in cash on sunday for expenses, will this be allowable expenditure.

i have made cash payments to differenct persons on a single day exceeding 20000 in aggregate but not individual

will this be allowed as expenditure.

Neeraj Kumar Goyal

Neeraj Kumar Goyal (Expert)
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11 February 2009 As per IT rule payment of more than Rs. 20000.00 in a day to a party / person is disallowed. But invoice / receipts with Revenue stamp is must.

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