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Sec-40

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(Querist)
06 January 2016 Respected Sir/Madam,
Can a partnership firm pay salary to the partner in cash in excess of Rs.20000 ?
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Ankur Singhal

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Ankur Singhal (Expert)
06 January 2016 Dear
cash expenditure in excess of rs.20000/- is disallowed as expenditure under section 40a(3).
You are advised to transfer the salary to partner capital account and then ask partners to withdraw the cash.

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