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Cash payment


GOVIND KHANDELWAL   10 September 2019

GOVIND KHANDELWAL

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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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anurag kumar   11 September 2019

anurag kumar

 1 likes  21 points

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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 .

RAJA P M ("Do the Right Thing...!!!")     11 September 2019

RAJA P M
"Do the Right Thing...!!!" 
 7931 likes  108144 points

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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.

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GOVIND KHANDELWAL   11 September 2019

GOVIND KHANDELWAL

 26 points

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can I make payment in cash on different dates

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sabyasachi mukherjee   11 September 2019

sabyasachi mukherjee

 92 likes  2347 points

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@ raja you are wrong.


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