can a person make cash payment Rs. 20000
This query is : Resolved
06 March 2009
can a person make cash payment more than Rs. 20000 to a person in day if there is 2 bill
ex. 1 bill for 12000 date 21.1.2009
2. bill for 9000 date 22.1.2009
give answer with reffrence to low
ex. 1 bill for 12000 date 21.1.2009
2. bill for 9000 date 22.1.2009
give answer with reffrence to low
06 March 2009
According to Sec. 40A(3) for disallowance the cash Payment should be more than 20000/- per Bill in your casse since each bill payment is less than prescribed limit so you can made payment in cash
it is immaterial that payee is the same person & payment made in one single day
it is immaterial that payee is the same person & payment made in one single day
06 March 2009
Yes, Sayyed is correct.
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