can I pay salary 14000/- monthly cash
what is the cash expenditure limit in a GST firm
10K is the limit for non-disallowance of the expenditure under IT act.......
But it can be paid on weekly basis, in some cases......
4 Replies
Piyush Khandelwal
(68 Points)
Replied 23 March 2018
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.
Laxman N Kalirana
(8 Points)
Replied 23 March 2018
You mean single payment limit is 10K but I can pay it week wise 10k*4(week) = 40000/-
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195760 Points)
Replied 23 March 2018
That is maximum limit for temporary workers hired under contract on daily wages....
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