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cash payments

223 views 3 replies

Gourav Sharma

8 Points Posted on 06 January 2019

if i purchase diseal from petrol pump amounting to rs. 120000 and payment made in cash. is this amount to disallowance

Replies (3)

umesh kumar sidana

ca

143 Points Posted on 06 January 2019

Yes, this will be disallowed during your tax audit.

Giridhar S Karandikar

Team Lead

7558 Points Posted on 07 January 2019

is the amt of 120000 paid at one time on a single day or in parts. if paid on a single day in whole then it will be disallowed.

Sarath Rajendran

Nil

2791 Points Posted on 07 January 2019

If you made this payments in different days you no need to disallow such expense

Other wise all expense paid above 10,000 is disallowed for this period.

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