Payment above 20,000
This query is : Resolved
Anand Modi
(Querist)
22 March 2012
If i buy raw material of Rs. 50,000 and i pay rs 19000 , 19000 and 12000 in 3 different days in cash then whether it is allowed under income tax act or it will be disallowed?
CA RICHA BADALIA
(Expert)
22 March 2012
Nothing will be disallowed as payment in a single day does not exceed Rs. 20000.
Mihir Doshi
(Expert)
22 March 2012
Agree with Ms. Richa
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