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Reg. cash in A Y 2017-18

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Rajat Sharma

Accountant

647 Points Posted on 29 October 2021

Sir I want to know that in the F Y 2016-17 relavent year 2017-18 how many amount paid on purchases in cash 10000/- or 20000/- please guide me Thanks

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Quick Summary

This discussion clarifies the cash payment limits for the financial year 2017-18. Previously, up to £20,000 could be paid in cash per person per day for expenses, excluding capital expenditure. For the relevant period, this limit was reduced to £10,000 per person per day for expenses.

CA Aakarsh Jain

10436 Points Posted on 29 October 2021

Till Financial Year 2016-17, the limit for any cash payment made to a single person in a single day against any expenses was Rs 20,000. This said limit was not applicable to capital expenditure. Now, the limit for any cash payment against expenses made to a single person in the single day is Rs 10,000.
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