Cash payment Exceed Rs 20000
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 January 2011
What is the law if cash payment is rs 65000 on 1-Sep-2010. as per income tax. is it allowed as exp. or what?
21 January 2011
Sec.40(A)3 will apply and disallow the cash payment for expenses by more then Rs.20000
21 January 2011
not allowed as expenditure
22 January 2011
disallwed and strikly going to penalized.
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