Cash payment and bank transaction

na there is no need to deposit cash in bank if u r not interested

but now if u wil pay more than 20000 for single expense to single party , youcant claim that expenses while finalising ur income...

but its advised why to maintain high cash in hand. have a bank account dear

if u still dont want to maintain bank A/c fine, then account the payments in three or four installments i mean to say account the payments have been made three different days 

ok sir . thank you very much .

Sir , if i pay in cash to some one and i buy some goods from that person to sell that goods to make an profit and for that i pay 2 lacs in cash , will be allowed ?

nopes it wil not b allowed dear.... u cant have purchases in cash.. so i wil suggest either have ten bills of below 20000 or pay in cheques

You are carrying on a business and filing ITR-4. You will be required to maintain books of accounts. And running coaching classes is not cash intensive business. So use bank also for making large payments.

if you pay above rs.20000/- is applicable for if you have a tax audit of incometax

if you not liable for tax audit than this is not applicable