banner_ad

Salary in cash

This query is : Resolved 
Profile Image

Profile Image

(Querist)
16 September 2020 Dear members,
If a person receives salary of RS. 25000/- per month in cash from an assessee who is not covered under sec 44AB audit. Will Section 40A(3) get attracted???will the assessee or employee be penalised under any other sections of the Income Tax Act???
Profile Image

PARAS CHHAJED

Profile Image

PARAS CHHAJED (Expert)
17 September 2020 S. 40A(3) and 40A(3A0 are applicable to every person including charitable organisations. If any payment is made in cash in excess of Rs.10,000 to a person in a day is made then it is to be disallowed (Rs. 35,000 for transportation) except where the return is filed u/s 454AD, 44ADA or 44AE.

The employee is not in trouble even if he received Rs.25,000 in cash every month as his salary.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 27 April 2026
CA Articled Assistant

GM Corporate Solutions

Noida

CA Final

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
04 May 2026
Articleship

S.K Gairola & CO

New Delhi

B.Com

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details