Cash payment exceeding 10000/- to sundry creditors

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 April 2017 What is the effect of CASH payment exceeding Rs.10000/- to sundry creditors for purchases?

CA Gopal Somani (Expert)
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05 April 2017 That purchase with be disallowed (Means no deduction will be available for those purchases) while calculating profits.

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