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Salary above Rs.20000/-

This query is : Resolved 
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(Querist)
22 June 2010 cam a private limited co. pay Salary above Rs. 20000/- in cash?
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
22 June 2010 No. Salary to one employee in cash on a single day in excess of 20K, if paid in casg, shall be disallowed u/s 40A(3).

It does not make any difference, whether the payer is Pvt Ltd. co. or otherwise.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
22 June 2010 agree
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Abuzar Azmi

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Abuzar Azmi (Expert)
22 June 2010 Yes Agree
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RAMESH KUMAR VERMA

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RAMESH KUMAR VERMA (Expert)
22 June 2010 dear jain,
if paid in cash rs. 20000/- in single day in excess shall be disallowed u/s 40A(3).
agree with Naik ji.
regards
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
22 June 2010 Agreed with experts.
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