Cash limit rs.20,000.00
This query is : Resolved
20 August 2011
Dear All,
I wanna know can we pay more than Rs.20,000.00 to an Individual as salary.
Regards
I wanna know can we pay more than Rs.20,000.00 to an Individual as salary.
Regards
20 August 2011
Dear,
As per Sec 40A(3) of Income tax any Revenue Expenditure which has paid by Other than A/c Payee Cheque or Draft more than Rs. 20,000/- will be dissallowed under Income Tax. Salary is alsp revenue expenditure.
Hence please avoid to make payment in Cash.
Thanks
As per Sec 40A(3) of Income tax any Revenue Expenditure which has paid by Other than A/c Payee Cheque or Draft more than Rs. 20,000/- will be dissallowed under Income Tax. Salary is alsp revenue expenditure.
Hence please avoid to make payment in Cash.
Thanks
20 August 2011
yes. Salary payment more than Rs.20000 by cash also apply sec.40A(3)
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