For section 40a(3)
This query is : Resolved
18 October 2012
can i make the salary payment by way of cash to my employee of Rs. 35000/-
Sunny Sonwal
(Expert)
18 October 2012
According to Rule 6D – Payment of More Than Rs 20,000/- in Cash in a day to Single person
Rule 6D Of The Income Tax Rules Rule Deals With, Cases and circumstances in which a payment or aggregate of payments exceeding twenty thousand rupees may be made by a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft.
Rule 6D Of The Income Tax Rules Rule Deals With, Cases and circumstances in which a payment or aggregate of payments exceeding twenty thousand rupees may be made by a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft.
Sunny Sonwal
(Expert)
18 October 2012
Ofcorse not, By law.
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CA Prashant Gupta
(Expert)
18 October 2012
you can't pay more than 20,000/- cash as salary. if you are doing so then this expense will be disallowed.
19 October 2012
k sir can i give them advance for any single purpose more than 20,0000/-
CA Pooja Agarwal
(Expert)
19 October 2012
it will be dissalowed for income tax purpose u/s 40A(3)
CA Prashant Gupta
(Expert)
19 October 2012
No you can't give advance more than 20,000/- for a single purpose.
you can give advance more than 20,000/- but all expense which are adjusted with that must be less than 20,000/-
you can give advance more than 20,000/- but all expense which are adjusted with that must be less than 20,000/-
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