Can I pay more than 5 laks

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SHIJI SAM (Querist)
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06 July 2011 Dear All,

I am working with One of the Adfilm company, here sometimes we have forced to pay with out deducting TDS & Cash payments bcoz if we shooting fixed in any home they will charge 1 lakh perday but they did not ready to receive cheque or DD only cash. Now my question is this it it possible to pay cash and how we can do the entry also if their is any exemption for Film Industry if yes please give me the note.

Awaiting your kind reply

SIBI

CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
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07 July 2011 Within the provisions of income tax act, you can not pay person more than 20000/- otherwise the expense will not be allowed.

There is no exemption for film industry.