Cash Payment to Supplier

JITENDRA SINGHVI (SELF EMPLYOED) (210 Points)

26 December 2018

Can cash payment made to supplier exceeding 10,000..?since income tax talked about restrictions on only cash payment of expenses..

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RAJA P M ("Do the Right Thing...!!!") (120020 Points)
Replied 26 December 2018

Yes...

but, I can't understand your question or view...

JITENDRA SINGHVI (SELF EMPLYOED) (210 Points)
Replied 26 December 2018

I mean cash restrictions of 10000 is not applicable for payment to supplier..?

RAJA P M ("Do the Right Thing...!!!") (120020 Points)
Replied 26 December 2018

Ha ha ha...

Dear.,

When we pay amount to Supplier...?

for any of the inwards right. The inwards also a expenditure. So, no way for for cash payment above 10k...

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JITENDRA SINGHVI (SELF EMPLYOED) (210 Points)
Replied 26 December 2018

Brother section 269 specifically says about expenses...Thier is difference between purchase & Expense....how can goods inward is an expense..

RAJA P M ("Do the Right Thing...!!!") (120020 Points)
Replied 26 December 2018

In PandL account which is accounted in "Left hand side" the all are called Expenditures. Purchase is one of the expense. Expenditure is common name to all inwards. We have spoiled it multiple heads as purchase, Labour, Salary, Telephone, Traveling, & etc.,

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