Fright payment Cash

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Pivate
1492 Points Posted on 26 October 2022
Dear Sir,

we have got the service from transporter. fright bill Rs.23000 can we pay cash Rs.23000 fright from Delhi to punjab
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On 26 October 2022 at 20:59 Report
Replies (9)
Quick Summary
This discussion clarifies the rules around paying freight bills in cash. While generally cash payments over £10,000 are restricted, there's a specific threshold of £35,000 for payments made to transporters. Exceeding this limit without using an account payee cheque or bank draft could lead to disallowed expenditure for tax purposes.

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12244 Points Posted on 27 October 2022
No.. it's in contravention to section 40A(3)
1 Reply
On 27 October 2022 at 00:46
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propritor
45 Points Posted on 27 October 2022
Limit for transporter is ₹35000
2 Reply
On 27 October 2022 at 01:06
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12244 Points Posted on 27 October 2022
35000 threshold is for tds under section 194C
1 Reply
On 27 October 2022 at 01:07
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Profession
28261 Points Posted on 27 October 2022
Disallowed expenditure will be added to your income.
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On 27 October 2022 at 10:24
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SEO Sai Gr. Hosp.
212460 Points Posted on 27 October 2022

Cash expense Limit- Section 40A(3) of IT act..

Threshold limit: Cash payment exceeding Rs 10000 to person in a single day not allowed.

The Limit is extended to Rs 35000 in case payments are being made to transporters.

 

4 Reply
On 27 October 2022 at 11:28
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729 Points Posted on 27 October 2022
You can pay cash limit is Rs.35000 to transporter
1 Reply
On 27 October 2022 at 16:58
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12244 Points Posted on 27 October 2022
Sorry for wrong comments.... the cash payments limit for transporters is 35000 as said by Mr. Dhiraj
1 Reply
On 27 October 2022 at 17:10
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Accounts
528 Points Posted on 28 October 2022
If total bill was 60k , 35k pay in cash and balance through cheque.
is it ok ?
1 Reply
On 28 October 2022 at 06:33
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SEO Sai Gr. Hosp.
212460 Points Posted on 28 October 2022

Yes, cash payment is within the available limit...  

1 Reply
On 28 October 2022 at 12:05

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