Easy Office
LCI Learning

cash expenditure in a day

This query is : Resolved 
Profile Image

Profile Image

(Querist)
05 May 2008 what is the limit of cash expenditure in day as per income tax act.

pl.explain in detail
Profile Image

CA Hemant T Dewani

Profile Image

CA Hemant T Dewani (Expert)
05 May 2008 not more than rs.20000/-in a single day for each head
Profile Image

Shyam Lal Naik

Profile Image

Shyam Lal Naik (Expert)
05 May 2008 There is no such restriction for each head. Rather the celling applies to each payee.
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

R.V.RAO

Profile Image

R.V.RAO (Expert)
05 May 2008 RS. 20000/- PER DAY FOR EACH PAYEE.
IF YOU PAY RS. 15000/-IN CASH AND BALANCE IN CQ. NO DISALLOWANCE.
R.V.RAO
Profile Image

Reetika Goel

Profile Image

Reetika Goel (Expert)
05 May 2008 Sir, i had read somewhere that the ceiling limit has come down to Rs. 10,000 each day each payee.

Please clarify......
Profile Image

Amit Sharma

Profile Image

Amit Sharma (Expert)
06 May 2008 total of 20,000 per day. Which is applicable u/s 40(a)(3).

Above that it will be disallowed.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links