Payment above 20000 in cash

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Abhishek garg

Abhishek garg (Querist)
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17 May 2014 Can a payment of more than 20k be made to different individuals in a single cash voucher.

Sandeep Dharar

Sandeep Dharar (Expert)
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17 May 2014 The limit is on payment to a single party in a single day. U can make expenditure in cash above 1 crore also but it must not cross rS 20k to a single person in single day.

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Abhishek garg

Abhishek garg (Querist)
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17 May 2014 Thank you for your precious reply.
but if the single cash voucher is made to pay all the individuals on a single date and that cash voucher exceeds Rs 20000 does the provision applicable or not.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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18 May 2014 well as such the provision should not apply as long the payment made to single party doesnt exceed 20000

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Sandeep Dharar

Sandeep Dharar (Expert)
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19 May 2014 In that case I suggest u to make separate vouchers for all the individuals. I will b allowed if it is clear n all evidences r supporting it. But it is not correct as per accounting principles.

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