Sir,
Please clarify, if we buy sweets for the staff of a company from a shop and the amount exceeds rs. 20000.00 . the shoppers take only cash for the purchase made for the sweets. whether this amount is allowed in books in a single day.
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Cash payment above rs. 20000.00
Replies (4)
It will not Allow as it will exceed Rs 20000/- in a single day to a single person........... here it is advicable ti split the entery into 2 days............
the amount will be disallowed
amount will be disallowed..
On the date of purchase take the bills below 20,000/- & make the payment on the same day it will be allowed. I know most of the member's wouldn't agree with my view, i also thought that payment in aggregate of Rs. 20,000/- is considered to a single person in a single day, but mine this doubt was cleared by Ca Vinod Gupta Sir. So the same would be allowed.
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