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Audit of cash

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221 Points Posted on 13 September 2014
if any cash payment exceeds rs. 20000...then what are the points to consider while auditing?
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On 13 September 2014 at 21:54 Report
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2405 Points Posted on 13 September 2014
1. Single payment more than rs. 20000 to single person is disallowed in IT.
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On 13 September 2014 at 22:53
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221 Points Posted on 13 September 2014
so wages paid rs. 44500 will be allowed...am i right?
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On 13 September 2014 at 22:55
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2405 Points Posted on 13 September 2014
Yes, but there are not payment of single party.
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On 13 September 2014 at 23:05
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221 Points Posted on 13 September 2014
okey....thank you..........
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On 13 September 2014 at 23:07
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2405 Points Posted on 13 September 2014
Welcome for further querry u can also mail me on dixpatel1989 @ gmail.com
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On 13 September 2014 at 23:11
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221 Points Posted on 13 September 2014
ok...tell me one more thing that if we make payment to the same party many times in a year for eg 30000,20000,10000....so will only 30000 be disallowed?
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On 13 September 2014 at 23:14
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2405 Points Posted on 13 September 2014
Yes, only 30000 will be diaallowed.
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On 13 September 2014 at 23:17


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