Cash limit rs.20,000.00
This query is : Resolved
20 August 2011
Dear All,
I wanna know can we pay more than Rs.20,000.00 to an Individual as salary.
Regards
I wanna know can we pay more than Rs.20,000.00 to an Individual as salary.
Regards
20 August 2011
Dear,
As per Sec 40A(3) of Income tax any Revenue Expenditure which has paid by Other than A/c Payee Cheque or Draft more than Rs. 20,000/- will be dissallowed under Income Tax. Salary is alsp revenue expenditure.
Hence please avoid to make payment in Cash.
Thanks
As per Sec 40A(3) of Income tax any Revenue Expenditure which has paid by Other than A/c Payee Cheque or Draft more than Rs. 20,000/- will be dissallowed under Income Tax. Salary is alsp revenue expenditure.
Hence please avoid to make payment in Cash.
Thanks
20 August 2011
yes. Salary payment more than Rs.20000 by cash also apply sec.40A(3)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- Disallowance of Section 43B(h) to sez units
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- GST Regis.
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Tds on building rent monthly
- As per schedule III of balance sheet how to pass journal entry
- Is correct way to find out capital of individual on 31st March
- Individual capital equal to which assets of balance sheet
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
