banner_ad

Payment of labour/ salary/ wages / bonus for more than rs.1000/- is to be made compulsory by cheque. ture or false

320 views 4 replies
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


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details