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cash payment exceeding 20000/-

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(Querist)
01 June 2008 I have business in delhi and the goods is purchased from KATNI, MP the truck freight always exceeds Rs 20000/- the truck driver always insist for cash.

Pl let me know if cash payment of such expenditure is allowable or not

vibcondelhi@indiatimes.com
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Nilesh Damji Chheda

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Nilesh Damji Chheda (Expert)
01 June 2008 No, according to income tax act the payment made above Rs. 20000/- is not allowed.

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