hai gd mng to all,
I have partnership firm, nature of business is Works contract. I want to make payment for wages around Rs 800000/ for oneday- can i draw per day amount Rs 800000/-to make payment for wages, if not how much amount to draw per day. please suggest sir
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CASH DRAWINGS
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There is no restriction under IT Act on withdrawal of cash from Bank. But there is a restriction on cash payment to a person per day. This limit is <10k subject to certain exceptions.
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