Cash payment of rs 2 lakhs

This query is : Resolved

SATHYAVRATHAN (Querist)
Follow

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??/

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

31 July 2014 You should not make any cash transactions above Rs.20,000.

Message likes : 1 times

SATHYAVRATHAN

SATHYAVRATHAN (Querist)
Follow

31 July 2014 I had already done the payment.. now what can be done???

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

31 July 2014 No problem if you are not paying any Income tax.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA Archana R

Deepak Nayak

Krishnamohan Gangaraju

Shameem ahmed

Konijarala prasad

Subscribe Now

Cash payment of rs 2 lakhs

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA