If i am giving to 4-5 employees 4000/- petrol reimbursement, 2000/- telephone reimbursement, 1500 books reimbursement per month, then how i can pay him? should i pay cheque by expense head or i can transfer to his bank a/c.
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Reimbursement
Replies (1)
My Friend,
Your question is not clear. I understood that your question is in relation to mode of payment. U/s 40A (3) of Income TAx Act 1961 cash payment in excess of Rs.20000 per day to the same party attracts disallowance of cash payment made. It is always advisable to make cheque payment. It will be safer mode and there will be a proof of payment also.
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