Section 40a(3)
This query is : Open
03 May 2017
SIr can we pay salary to our employee in cash exceeding rs 10000/- according to sec 40(A)
Ankur Singhal
(Expert)
03 May 2017
dear
From 01.04.2017 any expenditure made in cash exceeding Rs 10000/- per day
Ankur Singhal
(Expert)
03 May 2017
From 01.04.2017 any expenditure made in cash exceeding Rs 10000 per day per person in disallowed as eepnse under income tax.
so you can not pay salary in cash.
Also if you pay salary in parts that would not be justified as salary is not paid in parts generally
06 May 2017
The amendment is effective from 1.4.2018 onwards so accordingly will apply in releation to AY 2018-19 onwards.
Ankur Singhal
(Expert)
06 May 2017
Dear abhishek
the said amendment is applicable from 01.04.2017. i.e FY 17-18.
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