disallowance of cash payment
This query is : Resolved
CA Abhishek Singh
(Querist)
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.
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
(Expert)
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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