Salary
This query is : Open
23 March 2021
can we pay the salary in cash more than 10000
23 March 2021
Refer Rule 6DD for exceptions, https://taxguru.in/income-tax/section-40-a-3-income-tax-act-1961-read-rule-6dd.html
Exceptions I could think of are:
1) where the payment was required to be made on a day on which the banks were closed either on account of holiday or strike
2) where the payment is made by an assessee by way of salary to his employee after deducting the income-tax from salary in accordance with the provisions of section 192 of the Act, and when such employee:-
Is temporarily posted for a continuous period of 15 days or more in a place other than his normal place of duty or on a ship; and does not maintain any account in any bank at such place or ship.
These exceptions do not make much sense nowadays because bank transactions can be carried out online 24/7.
However, these exceptions may be considered if applicable in your case.
Exceptions I could think of are:
1) where the payment was required to be made on a day on which the banks were closed either on account of holiday or strike
2) where the payment is made by an assessee by way of salary to his employee after deducting the income-tax from salary in accordance with the provisions of section 192 of the Act, and when such employee:-
Is temporarily posted for a continuous period of 15 days or more in a place other than his normal place of duty or on a ship; and does not maintain any account in any bank at such place or ship.
These exceptions do not make much sense nowadays because bank transactions can be carried out online 24/7.
However, these exceptions may be considered if applicable in your case.
Message likes :
1 times
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
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
