Cash payment limit in audit
Ajay Kashimpure (16 Points)
01 October 2020
what is the maximum cash payment limit for one party in a financial year in audit case
Ajay Kashimpure (16 Points)
01 October 2020
CA Kushwanth AVSR
(CA in Practice CMA by Qualification)
(1593 Points)
Replied 02 October 2020
Maximum cash payment limit is per one party per one day and it is Rs. 10,000/-. There is no restriction for one party in a financial year.
In case of loans and advances then 269SS and 269T applicable. In those cases you can't pay amount in cash, if the loan amount exceeds Rs. 20,000/-
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