Dear Sir
Cash purchase disallowed to us in a single day if it increase in 10000/- but supplier creditor give us to cash receipt for Rs 30000/- in a single day so can it allowable to supplier
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Cash purchase in single day
Replies (6)
Quick Summary
No it will be disallowed but in case of transporter the limit will be 35000 rupees in cash
It shall be disallowed for u but ur supplier can receive 30000/-. no problem in that.
Not 30000 it's 35000 rupees in cash
Thank you lotus choudhary Sir
Your welcome sir.
There is one exception to this rule where you can pay up to Rs 35,000 to a transporter in a day without attracting the disallowance. Likewise in case you pay any amount beyond Rs 10,000 for acquiring any asset, such payment is not allowed to be added to the cost of the asset for the purpose of claiming depreciation.
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