Payment in cash more than rs. 20000 for diesel in a day
This query is : Resolved
30 June 2015
Hi,
Please tell me our company is purchased diesel for more than Rs. 20000/- in cash on site in single day from common petrol pump for genset. Is it disallowed? Payment made for electronic work for more than Rs. 20000/- is allowed or disallowed? Our company is a construction company.
Please tell me our company is purchased diesel for more than Rs. 20000/- in cash on site in single day from common petrol pump for genset. Is it disallowed? Payment made for electronic work for more than Rs. 20000/- is allowed or disallowed? Our company is a construction company.
CMA Ramesh Krishnan
(Expert)
30 June 2015
Yes. it will be disallowed u/s.40A(3), since the cash expenses more then Rs.20000
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