Hi,
I heard that rent payments more than Rs 20 K per month needs to be paid by cheque only.
Is this true?
Thanks
Aasim
Menu
Rent Payment by cheque
Replies (1)
dear aasim
this rule is not for only rent payment but it is for all the payment made by any person in cash for more then 20000/- then it will be liable to pay tax on that amount,
so by the law it has been made complusory to make payment in excess of Rs.20,000/- to be made by a/c payee chaeque not in cash.
Recent Topics :
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
- Is SAP FICO a good career option for finance and a
- Direct Cost booking
Related Topics :
CAclubindia
