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CASH advance to employee

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63 Points Posted on 15 July 2020
Can I give cash advance of more than 20000 to my employee which would be adjusted from his salary in the time to come.?
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On 15 July 2020 at 14:11 Report
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1234 Points Posted on 15 July 2020

 

Its advance against salary. There is no issue in doing so as long as you are recovering it from the salary of the employee. However its better to do in bank channel instead of cash, since you may attract 40(A)3 disallowance.

4 Reply
On 15 July 2020 at 14:46
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"Do the Right Thing...!!!"
128147 Points Posted on 15 July 2020
Yes... You can give.
463 Reply
On 15 July 2020 at 14:47
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article
49 Points Posted on 15 July 2020
Such a exps is disallowed if your entity required to do audit.
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On 15 July 2020 at 19:27
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"Do the Right Thing...!!!"
128147 Points Posted on 15 July 2020
No... it's not disallowed...
463 Reply
On 15 July 2020 at 19:30
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Practising CA
8954 Points Posted on 15 July 2020
Daily limit of cash payment to one person is 10000. So it will be disallowed. Give on 2 different dates.
30 Reply
On 15 July 2020 at 19:53
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aaa
729 Points Posted on 15 July 2020
It is admissible in case of the amount given on two different dates.
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On 15 July 2020 at 20:09
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"Do the Right Thing...!!!"
128147 Points Posted on 15 July 2020
What is in sec 40A(3)...?

Can anyone will give the details or law to Herr...?

please...
463 Reply
On 15 July 2020 at 21:48
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"Do the Right Thing...!!!"
128147 Points Posted on 15 July 2020
What is in sec 40A(3)...?

Can anyone will give the details or law to Herr...?

please...



ITS MEAN GIVE THE SECTION'S RULE HERE OR ONCE AGAIN REFER THE SECTION WITH QUERY...
463 Reply
On 15 July 2020 at 22:18
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Tax and Business Consultant
11616 Points Posted on 18 July 2020
As per Sec 40A(3) expenses in excess of Rs.10,000/- in cash is disallowed. So, it's better to give amount less than 10,000/- or give on two different date ( i.e within limit of 10,000/- per day)
66 Reply
On 18 July 2020 at 16:36


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