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Payment above 20,000

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(Querist)
22 March 2012 If i buy raw material of Rs. 50,000 and i pay rs 19000 , 19000 and 12000 in 3 different days in cash then whether it is allowed under income tax act or it will be disallowed?
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CA RICHA BADALIA

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CA RICHA BADALIA (Expert)
22 March 2012 Nothing will be disallowed as payment in a single day does not exceed Rs. 20000.
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Mihir Doshi

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Mihir Doshi (Expert)
22 March 2012 Agree with Ms. Richa
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