can I pay salary 14000/- monthly cash
what is the cash expenditure limit in a GST firm
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salary limit in cash
Replies (4)
10K is the limit for non-disallowance of the expenditure under IT act.......
But it can be paid on weekly basis, in some cases......
There is no specific limit for GST firm. The cash payment is to be followed as per the provision of section 40A(3) which sets the limit to Rs 10,000 for single payment/transaction. However, there are certain exceptions in the said section.
You mean single payment limit is 10K but I can pay it week wise 10k*4(week) = 40000/-
That is maximum limit for temporary workers hired under contract on daily wages....
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