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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Cash Payment to Supplier
Replies (9)
Yes...
but, I can't understand your question or view...
but, I can't understand your question or view...
I mean cash restrictions of 10000 is not applicable for payment to supplier..?
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...
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...
Brother section 269 specifically says about expenses...Thier is difference between purchase & Expense....how can goods inward is an expense..
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.,
10000 Rs limit is applicable for assessesment other than presumption based assessment, while 2 lac limit is applicable for all just to clarify.
They (presumptive filers) can't think this way...
Also they can't ask the same..
Also they can't ask the same..
follow RULES OF INTERPRETATION EJUSDEM GENERIS
Can a money transfers distributor pay in cash directly to company above 10000?
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