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Cash payment to transporter

Vinod Kumar K (Advocate/Tax Consultant)   (55 Points)

06 October 2011  

Dear sirs/madam, a dealer paying freight of Rs.65000/- per consignment. As per the provisions of the IT Act, the cash payment limit is Rs.35000/-. Is it possible to pay Rs.35000/- on goods received day and balance Rs.30000/- on the next day by cash?


 17 Replies

Devendra (Chartered Accountant) (4765 Points)
Replied 06 October 2011

Yes. It is possible.

Aparna Raja K.C (Student) (520 Points)
Replied 06 October 2011

Yes.. you can :)

Swapnil Jain (Finance - FP&A) (564 Points)
Replied 06 October 2011

yes!! 

only payment above Rs35000 to a transporter in a single day is disallowed

Souvik Kumar Ghosh (CA Final) (1368 Points)
Replied 06 October 2011

Yes you can.

Sandeep Pandey (CA FINAL) (1306 Points)
Replied 06 October 2011

yes u can................

CA BISHAN AGARWAL (Profession) (93 Points)
Replied 06 October 2011

yes it can be done but you ensure to have their pan no. otherwise you have to deduct 20% TDS.

Ashutosh Biswal (Asst.Manager Finance) (283 Points)
Replied 06 October 2011

Originally posted by : CA BISHAN AGARWAL
yes it can be done but you ensure to have their pan no. otherwise you have to deduct 20% TDS.

is there any provison when individual availing this service and making this volume of payment through cash ...

CA PRAVEEN SINGH (MANAGER ACCOUNTS) (2277 Points)
Replied 06 October 2011

yes u can do....

Restriction of same day same party...

Aparna Raja K.C (Student) (520 Points)
Replied 07 October 2011

Only Compannies are required to deduct TDS not individuals

A____ __A (Student All-ways) (275 Points)
Replied 07 October 2011

Originally posted by : Aparna Raja K.C

Only Compannies are required to deduct TDS not individuals

 they have to if they were liable to 44ab in preceeding f.y.

Niraj (Article/CA Final) (52 Points)
Replied 07 October 2011

Yes you can do.........

periasamy (DGM Finance) (90 Points)
Replied 07 October 2011

Whether we can pay the freight for one transporter below 35000/- per day in many no of days. Is it possible.

CA BISHAN AGARWAL (Profession) (93 Points)
Replied 07 October 2011

Not only companies even individuals if they crosses the limit u/s 44AB for Tax Audit they also require to deduct TDS if there is no pan no.

CA Rahish Mohmmed (Practicing Chartered Accountants)   (42 Points)
Replied 08 October 2011

yes u can


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