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Annual cash payment limit to same party

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 June 2012 As per the law there is one time payment limit of Rs.20000/- but i would like to know if there is any limit for making cash payment to same party for a year.

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Divyesh
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Sidhardh

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Sidhardh (Expert)
30 June 2012 No limit per year. Also, as mentioned in your query, it is not one time payment limit. Rs.20,000/- is a limit of aggregate of all cash payments to a party in a day.
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