For Employer : Cannot claim deduction. But is it legal ?
For employee: Can they file ITR ? Is it legal ?
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Rs 20000 & above in cash as salary
Replies (7)
yes it's legal for both employer and employee. from a.y. 2018-19, the employee will have to pay penalty if he receives his salary in cash above 10000
under which section rama krishnan sir?
under section 269ST Harsha sir
Was the law same & valid for the years 2012, 2013, 2014, 2015, 2016 & 2017
no it is coming into effect from a.y. 2018-19 only . for the a.ys mentioned by you, though there is no impact on payee ie employee the same will be disallowed in the hands of payer ie employer and assessed as income
Just to confirm for the FYs ------2012, 2013, 2014, 2015, 2016--------20K & above, salary paid in cash was still legal & valid
there's no illegality in paying salary in cash for any a.y. it all about allowance and disallowance
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