banner_ad

Cash Payment to Supplier

2029 views 9 replies
User Avatar

SELF EMPLYOED
211 Points Posted on 26 December 2018

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

1 Reply Share Follow
On 26 December 2018 at 19:08 Report
Replies (9)
User Avatar

"Do the Right Thing...!!!"
128147 Points Posted on 26 December 2018
Yes...


but, I can't understand your question or view...
463 Reply
On 26 December 2018 at 20:02
User Avatar

SELF EMPLYOED
211 Points Posted on 26 December 2018
I mean cash restrictions of 10000 is not applicable for payment to supplier..?
1 Reply
On 26 December 2018 at 20:03
User Avatar

"Do the Right Thing...!!!"
128147 Points Posted on 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...
463 Reply
On 26 December 2018 at 20:15
User Avatar

SELF EMPLYOED
211 Points Posted on 26 December 2018
Brother section 269 specifically says about expenses...Thier is difference between purchase & Expense....how can goods inward is an expense..
1 Reply
On 26 December 2018 at 20:33
User Avatar

"Do the Right Thing...!!!"
128147 Points Posted on 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.,
463 Reply
On 26 December 2018 at 20:45
User Avatar

28 Points Posted on 26 December 2018
10000 Rs limit is applicable for assessesment other than presumption based assessment, while 2 lac limit is applicable for all just to clarify.
Reply
On 26 December 2018 at 21:10
User Avatar

ACCOUNTANT
2975 Points Posted on 26 December 2018
They (presumptive filers) can't think this way...
Also they can't ask the same..
6 Reply
On 26 December 2018 at 21:25
User Avatar

29 Points Posted on 27 December 2018
follow RULES OF INTERPRETATION EJUSDEM GENERIS
Reply
On 27 December 2018 at 22:38
User Avatar

.
90 Points Posted on 06 February 2021

Can a money transfers distributor pay in cash directly to company above 10000?

Reply
On 06 February 2021 at 19:38


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details