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Cash limit rs.20,000.00

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(Querist)
20 August 2011 Dear All,

I wanna know can we pay more than Rs.20,000.00 to an Individual as salary.

Regards
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SUMIT KUMAR MEHARIA

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SUMIT KUMAR MEHARIA (Expert)
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
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
20 August 2011 yes. Salary payment more than Rs.20000 by cash also apply sec.40A(3)
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