Payment in excess of 20000

This query is : Resolved

Abhishek Jain (Querist)
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16 July 2012 Hi, My Query is:
A Co has paid Rs100000 in cash to NK Traders for 3 Bills on a single day. Plz tell me whether it will be allowed or Disallowed

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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17 July 2012 The payment will be disallowed since the AGGREGATE amount exceeds Rs. 20,000.

CA.Sourabh Sethia

CA.Sourabh Sethia (Expert)
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17 July 2012 if the all the three bills are above Rs.20000/- then it will be disallowed
for eg:-
if 1st bill is Rs.40000/-
2nd is Rs.40000/-
3rd is Rs.20000/-
then 1st and 2nd will be disallowed
but if 1st is Rs.60000/- and 2nd & 3rd are Rs.20000/- then only 1st bill will be disallowed
so it depends on the bill amount