Cash payment of rs 2 lakhs
This query is : Resolved
SATHYAVRATHAN
(Querist)
31 July 2014
I am a researcher and have paid Rs. 2lakhs a cash for a purchase of an equipment.
Is that allowed or what should I do for this.
I have a grant sanctioned from Govt of India.
Please advice whether I shall carry out cash transactions or not??/
Is that allowed or what should I do for this.
I have a grant sanctioned from Govt of India.
Please advice whether I shall carry out cash transactions or not??/
CA R SEETHARAMAN
(Expert)
31 July 2014
You should not make any cash transactions above Rs.20,000.
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SATHYAVRATHAN
(Querist)
31 July 2014
I had already done the payment.. now what can be done???
CA R SEETHARAMAN
(Expert)
31 July 2014
No problem if you are not paying any Income tax.
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