Cash Payment More Than 10000 by Pvt. Ltd. Co.

This discussion explores whether a private limited company can legally split cash payments for a single invoice exceeding £10,000 into smaller, daily amounts under £10,000. The consensus is that this practice would likely be disallowed under Section 40(A)(3) of tax regulations, which disallows expenditure if aggregate payments to a person in a single day, made otherwise than by account payee cheque or electronic mode, exceed £10,000.