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.
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.
CAclubindia
