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Payment in cash of GR

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(Querist)
19 June 2008 Can we pay in cash payment of GR(Goods Receipt) of Rs.25000?
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Shekar

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Shekar (Expert)
19 June 2008 No..u can't as any payment (Subject to 6DD exceptions)exceeding Rs.20000 made in cash will be disallowed u/s40a(ia)...
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PC-www.bharadwajinstitute.com

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PC-www.bharadwajinstitute.com (Expert)
19 June 2008 20% of the amount paid inexcess of Rs. 20000 in cash will be disallowed...

This disallowance is not applicable for Agricultural produces procured from farmers.
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Shekar

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Shekar (Expert)
20 June 2008 Not 20% but whole 100% of cash payments above Rs.20000 will disallowed from A.yr-2008-09
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