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Cash Payment

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(Querist)
14 October 2010 As per section 40A(3) can we pay Cash Rs.19999/- to single person on daily basis thought the year?
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sudhakar ca cwa

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sudhakar ca cwa (Expert)
14 October 2010 ya we can pay as per 40A(3)

BUT IF IT IS LOAN THEN 269 WILL COME THEIR WE CAN'T PAY
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Shankar

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Shankar (Querist)
14 October 2010 NO we are paying against future Inv. then is it ok?
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sudhakar ca cwa

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sudhakar ca cwa (Expert)
14 October 2010 u can pay
bt income tax dept may question u at the time of assessment

better dnt do lke dt.

pay by crossed cheque only suggestable.
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Shankar

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Shankar (Querist)
14 October 2010 In actual practice I m not going to make cash payments on daily basis. but for the some extend i.e. Rs. 200000 / 19999.00 in the whole year to single person. is that ok.

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