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Cash payment

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06 April 2015 i have saw on quarry on 04.04.2015, by anusha, regarding the rent deposit in cash rs.58000, shall we make the cash payment above 20000?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
06 April 2015 No. For cash payment above Rs 20000/- provision of Section 40A(3) will be attracted and expenses will be disallowed.

For salaried individuals making cash payment in excess of Rs 20000/- there will not be any issue.

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