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Audit of cash
if any cash payment exceeds rs. 20000...then what are the points to consider while auditing?
Replies (7)
1. Single payment more than rs. 20000 to single person is disallowed in IT.
so wages paid rs. 44500 will be allowed...am i right?
Yes, but there are not payment of single party.
okey....thank you..........
Welcome for further querry u can also mail me on dixpatel1989 @ gmail.com
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?
Yes, only 30000 will be diaallowed.
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