Can advance amount be paid in cash in excess of Rs. 20000 ( say revenue or capital expenditure to be incurred in future) ?
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Cash payment in excess of 20000
Replies (2)
No, Advance payment also not to be made more than Rs. 20000 in cash for Revenue expenditure. And even if it for capital expenditure like Depreciable assets should not be made.
But it can be made for Non depreciable assets.
YES ADVANCE PAYMENT ABOVE 20000 IS ALSO DISALLOWED
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