Is the Cash Expense limit for transporters is Rs.20000/ or Rs.30000/.?
raunak
(CA)
(369 Points)
Replied 05 December 2012
If payment is made for plying , hiring leasing of goods..then cash expense limit is 35000..
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 05 December 2012
in case of transporter limit is 35000
subhajit behera
(student)
(65 Points)
Replied 05 December 2012
For regular payments its INR :20,000 only in the case of transporter it should be below INR:35,000
RAJ KUMAR BHANDARI
(FINANCE)
(165 Points)
Replied 05 December 2012
I THINK, THAT
CASH EXPENSES LIMIT IS ONLY RS. 20,000/-,
PURCAHSE OF CAPITAL GOODS IS NO LIMIT DEFINE(IF CAPITLISE THE GOODS)
RS. 30,000/- IS LIMIT FOR TDS U/S 194C IN A DAY.
PLEASE RECTIFY , IF I AM WRONG
THANKS
Hitesh Kaila
(TAX CONSULTANT)
(270 Points)
Replied 05 December 2012
Anjani Kumar
(Manager)
(128 Points)
Replied 05 December 2012
Where the assessee incurs any expenditure in respect of which a payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft, exceeds twenty thousand rupees, no deduction shall be allowed in respect of such expenditure
Abhishek Agarwal
(Self Employed)
(26 Points)
Replied 05 December 2012
In case of transporter,
The limit is 35000/-
DEEPA VYAS
(CA )
(2039 Points)
Replied 05 December 2012
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