Daily wages in cash

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59 Points Posted on 24 February 2021
we have paid in cash more than 10 k
is a section 40A (3) applicable or not
and even esi cover on those casual daily labour
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On 24 February 2021 at 19:32 Report
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This discussion clarifies the applicability of Section 40A(3) of the Income Tax Act regarding cash payments for daily wages. It confirms that exceeding ₹10,000 in cash per person per day for such payments can lead to disallowance of expenses. The conversation also touches upon the ESI coverage for casual daily labourers.

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Chartered Accountant
24588 Points Posted on 24 February 2021
Section 40A(3) prescribes to pay not more than 10000 rupees in cash.
In your case disallowance will be attracted
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On 24 February 2021 at 21:53
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59 Points Posted on 24 February 2021
Even daily labour is applicable cash restrictions
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On 24 February 2021 at 21:54
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GST Consultant
15986 Points Posted on 25 February 2021
Yes it's applicable.
But it is Rs. 10000 per person
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On 25 February 2021 at 06:05
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Student CA IPC / IPCC
89 Points Posted on 25 February 2021
If it exceeds 10000 per person and single day..then disallowed
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On 25 February 2021 at 17:04

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