can I make payment in cash for purchase of the capital assest for business in the installment of Rs10,000 on different days?
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Cash payment
Replies (4)
Gst has no cash restrictions. Income tax act does have . According to section 269ST the receiver will have to pay 100% tax if he receives cash above 2 lakh rupees . Now according to section 32,section 40A(3), section 40A(3A) you can pay below 10000 on different dates but the aggregate amount should be less than 2 lakhs according to the above mentioned section .
No...
If a bill value exceeding Rs 10k then Cash Payment is not acceptable as per income and it's disallowed.
Better to pay any banking mode.
If a bill value exceeding Rs 10k then Cash Payment is not acceptable as per income and it's disallowed.
Better to pay any banking mode.
can I make payment in cash on different dates
@ raja you are wrong.
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