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Cash Payments above Rs.20000

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(Querist)
17 May 2009 Will Cash Payments above Rs.20000/to Creditors outside the home state be disallowed.The nature of payment is not for purchase of capital asset .
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
17 May 2009 Yes. It does not make any difference whether the creditor is local or out of home town.

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