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Cash Payment to Supplier

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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..

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On 26 December 2018 at 19:08 Report
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"Do the Right Thing...!!!"
128152 Points Posted on 26 December 2018
Yes...


but, I can't understand your question or view...
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On 26 December 2018 at 20:02
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SELF EMPLYOED
211 Points Posted on 26 December 2018
I mean cash restrictions of 10000 is not applicable for payment to supplier..?
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On 26 December 2018 at 20:03
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"Do the Right Thing...!!!"
128152 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...
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On 26 December 2018 at 20:15
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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..
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On 26 December 2018 at 20:33
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"Do the Right Thing...!!!"
128152 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.,
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On 26 December 2018 at 20:45
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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.
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On 26 December 2018 at 21:10
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ACCOUNTANT
2975 Points Posted on 26 December 2018
They (presumptive filers) can't think this way...
Also they can't ask the same..
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On 26 December 2018 at 21:25
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29 Points Posted on 27 December 2018
follow RULES OF INTERPRETATION EJUSDEM GENERIS
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On 27 December 2018 at 22:38
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90 Points Posted on 06 February 2021

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

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On 06 February 2021 at 19:38


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