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Cash payment limit.. reg

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ACCOUNTANT
524 Points Posted on 07 October 2019
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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On 07 October 2019 at 15:39 Report
Replies (4)
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"Do the Right Thing...!!!"
128147 Points Posted on 07 October 2019
It's not correct. Better to pay through banking mode.
463 Reply
On 07 October 2019 at 17:58
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ACCOUNTANT
524 Points Posted on 07 October 2019
OK sir, but what about the already paid amount.
1 Reply
On 07 October 2019 at 18:07
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ca
19 Points Posted on 07 October 2019

sir I think there no problem payment above 10K upto 200000 per anum

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On 07 October 2019 at 19:18
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Student
23688 Points Posted on 09 October 2019
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.
97 Reply
On 09 October 2019 at 17:28


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