Rule 6d, section 40a
This query is : Resolved
Mahadeo Gawas
(Querist)
21 June 2013
Sir, We want to Make Cash Payment of Rs. 1,50,000/- to Empoyees on behalf of Contrator and the Bill will be raised in the Name of Contractor. Does such transaction allowed as per rule 6D, section 40A
CMA Ramesh Krishnan
(Expert)
21 June 2013
Yes. Sec.40A(3) apply for the payment by cash more than Rs.20000 to employee also
so your transaction will be apply sec.40A(3)
so your transaction will be apply sec.40A(3)
Mahadeo Gawas
(Querist)
26 June 2013
There are more than 50 Employees and Cash payment to each employees doesnot exceed Rs. 20000/-. Please reply
CMA Ramesh Krishnan
(Expert)
26 June 2013
such as case sec.40A(3) will not apply
CA.Vinita Gupta
(Expert)
26 June 2013
The limit for cash payment is 20000 for each individual so second 40A (3) does not apply
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