Limit of payment by cheque?
Ghanshyam Lohar (ACCOUNTANT) (60 Points)
22 September 2019
If someone provide kaccha bill then how much limit we can pay him through cheque?
8 Replies
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 22 September 2019
No more specific limits through cheque if it's reasonable payments.
Kapadia Pravin
(17264 Points)
Replied 22 September 2019
No limit on cheque payments but accounting kaccha bill may create issues in assessment.
please keep address proof, Pan card copy of party to whom you are paying.
please keep address proof, Pan card copy of party to whom you are paying.
sabyasachi mukherjee
(27795 Points)
Replied 22 September 2019
Kaccha bill to hoi nehi sakta...
kaccha bill ko kaccha paisa payment karo.
kaccha bill ko kaccha paisa payment karo.
Rajnish Goel
(70 Points)
Replied 22 September 2019
What do you mean by kaccha bill.. one kacha bill in cash that is abviously paid in cash and if it is giving ur particular name than u can pay it from ur bank seving bank. but liability arise for party at time of assessment why they issue without tax(kacha bill). it may be unregistered party. but if they are registered than they can not issue kacha bill
sabyasachi mukherjee
(27795 Points)
Replied 22 September 2019
Thats the point if they issue the bill and does not raise a liability then .
untegistered party .
reverse charge will apply.
untegistered party .
reverse charge will apply.
Rajnish Goel
(70 Points)
Replied 22 September 2019
Reverse charge depends on bill nature..
like if it is freight or professional fee to advocate etc than applicable.. but if u r purchasing something that no reverse charge applicable..
like if it is freight or professional fee to advocate etc than applicable.. but if u r purchasing something that no reverse charge applicable..
Kapadia Pravin
(17264 Points)
Replied 22 September 2019
@ Ghanshyam
In addition to my above reply -
Pay by Account Payee Cheque
Your query gets answered.
For what purpose such payment you are making is not known.
In addition to my above reply -
Pay by Account Payee Cheque
Your query gets answered.
For what purpose such payment you are making is not known.
Ghanshyam Lohar
(ACCOUNTANT)
(60 Points)
Replied 22 September 2019
Sir, recently corporate tax has been reduced. So I want to know that which expenses in a company are allowable or claimable in income tax act.
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