Payment in excess of 20000
This query is : Resolved
Abhishek Jain
(Querist)
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
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
17 July 2012
The payment will be disallowed since the AGGREGATE amount exceeds Rs. 20,000.
CA.Sourabh Sethia
(Expert)
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
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
Abhishek Jain
(Querist)
17 July 2012
Thank You So Much for your Replies
CA BHARATH KUMAR
(Expert)
17 July 2012
excess of 20000 disallowed
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