Payment of salary in cash
This query is : Resolved
Avinash Jeevan Dsouza
(Querist)
07 April 2020
Can we pay salary in cash for above 10K?
CA PARAS BAFNA
(Expert)
07 April 2020
Section 40A(3) restricts cash payment in a single day upto Rs 10000/-.
If the payees are different but the salary of each employee is less than 10000/- you can pay.
If the salary is more than 10000/- pm you can make payment on 2 -3 different days.
However, the best way is to get opened a savings bank account of your employee.
If the payees are different but the salary of each employee is less than 10000/- you can pay.
If the salary is more than 10000/- pm you can make payment on 2 -3 different days.
However, the best way is to get opened a savings bank account of your employee.
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
