dear sir,
can I make a single payment exceeds of rs. 20000 against legal expense.
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cash payment
Replies (3)
NO PAYMENT EXCEEDING RS 20000 TO A SINGLE IN A SINGLE DAY CANNOT BE MADE.
No payment can be made in cash exceeding Rs.20,000. To be paid either by way of account payee cheque or account payee draft.
Dissallowance under Section 40A(3) will attract to it.
if you are paid through CASH then limit is 20000/- in a single day.
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