Salary more than Rs 20000 in cash
This query is : Resolved
08 June 2009
A company pays salary to its staff(1 person) amounting more than Rs 20000 in cash. Will this amt be allowed as Business exp or not?
What if company pays salary to a person via bearer cheque for an amt more that 20000/-
What if company pays salary to a person via bearer cheque for an amt more that 20000/-
08 June 2009
From the second proviso to section 40A(3), it is evident that no disallowance under this sub-section shall be made where any payment in a sum exceeding Rs. 20,000 is made otherwise than by a crossed cheque/crossed bank draft in such cases and under such circumstances as may be prescribed
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
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- Applicable TDS for Purchase of Flat from NRI
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- ITR validation error - Balance sheet is not filled
- Form 10BD Filling
- TDS ON CASH WITHDRAWALS...
- Annual return of gst limit
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- 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
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
