Regarding payment exceeding rs 20000
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 October 2016
Dear All
I got a bill of Rs 75000 can i made the whole payment in cash on different days i.e 15000 each in five different days without any disallowance under Income Tax Act ?
I got a bill of Rs 75000 can i made the whole payment in cash on different days i.e 15000 each in five different days without any disallowance under Income Tax Act ?
10 October 2016
Yes you can do it it will not be dis allowed. Payment in a day should not exceed Rs. 20,000.
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