Payment exceed Rs 20000.
This query is : Resolved
06 January 2010
1. Can we pay More than Rs. 20000 for captial expenditure(purchases of wood, ply).
2. In a singla day, we can pay more than Rs 20000 to One party for different bills?
2. In a singla day, we can pay more than Rs 20000 to One party for different bills?
06 January 2010
You can purchase capital goods By cash more than 20000/-
you can pay to transporter up to 35000/- its applicable from 1.10.2009
other case it will be disallowed
you can pay to transporter up to 35000/- its applicable from 1.10.2009
other case it will be disallowed
06 January 2010
1. yes
2. no
2. no
06 January 2010
i purchased wood/ply for office renovation of amount 55000\- and pay that amount in cash.i added that amount in furniture & fitting head(as captial Exp.).is it right or possible.
06 January 2010
its an capital expenditure
06 January 2010
Dear
1)Sec 40A(3) i-e Payment inexcess of Rs.20000 in cash or cross cheque, attracts only to those items which comes to P/L A/c, since you purchased asset which is not come to P/L A/c so there is no retriction of Cash or cheque
2)Different Bills below Rs.20000 but paid to same person in a single day must be aggregate so you can not paid.
1)Sec 40A(3) i-e Payment inexcess of Rs.20000 in cash or cross cheque, attracts only to those items which comes to P/L A/c, since you purchased asset which is not come to P/L A/c so there is no retriction of Cash or cheque
2)Different Bills below Rs.20000 but paid to same person in a single day must be aggregate so you can not paid.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
