Menu
Payment of labour/ salary/ wages / bonus for more than rs.1000/- is to be made compulsory by cheque. ture or false
Hi
I got one whatsapp forward msg regarding Important Changes w.e.f 01/04/2017, in this one point i.e.
Any payment of labour/ salary/ wages / bonus for more than Rs.1000/- is to be made compulsory by cheque. can any one please confirm is it true or not
even please share the changes done by IT department in the cash transaction.
Replies (4)
It is 10,000/- and not 1K as per your query.
More than 10K is disallowed as per section 40A(3) of IT act.
Yes but limit is Rs.10000/- not Rs. 1000/-
THANK YOU SO MUCH FOR REPLY IT IS VERY HELPFULL TO ME...
Most welcome
Recent Threads
- Form 16 format
- 17(5) Blocked ITC
- Transfer of equity shares to original owner
- Login credentials and payment acknowledgement not
- Export sales not realised payment not received fro
- Capital gain account amount utilisation
- Form 26QB – Section 194-IA: TDS on Full Cons
- Indexation Benefit available or not on Calculation
- Documents for return exhibition material
- Can I set off equity losses(both short term loss a
Related Threads
CAclubindia
