Cash payment of chitty
This query is : Resolved
26 December 2015
Dear Expert
One of my clients paid subscription of Chitty Rs 100000 per month ina cash .He is accounting it as an invest,ment in accounts.Whether the limit of cash payment of Rs 20000 is applicable in this case.Kindly advice
Thanks in Advance
One of my clients paid subscription of Chitty Rs 100000 per month ina cash .He is accounting it as an invest,ment in accounts.Whether the limit of cash payment of Rs 20000 is applicable in this case.Kindly advice
Thanks in Advance
30 December 2015
Dear
Section 40A(3) i.e limit of Rs. 20000/- is applicable on cash expenses.
And in your case it is investment
so no need to worry.
Section 40A(3) i.e limit of Rs. 20000/- is applicable on cash expenses.
And in your case it is investment
so no need to worry.
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