Sir,
I have paid above 10 k on every month to margadarsi chit fund pvt Ltd. We are also registered firm. Pls confirm sir. Is it correct or not..?
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Cash payment limit.. reg
Replies (4)
It's not correct. Better to pay through banking mode.
OK sir, but what about the already paid amount.
sir I think there no problem payment above 10K upto 200000 per anum
Rs. 10,000 limit is for per day. As per Section 40A(3) of the Income Tax Act 1961, Payment exceeding Rs 10,000 in CASH is not allowed as deduction under Income Tax Act.
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