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Cash payment over 20000

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(Querist)
15 November 2011 DEAR ALL

CAN COMPANY CAN MAKE INSUANCE CHARGES PAYMENT MORE THAN 20000/- IF NO THEN HOW WE CAN MADE THE ENTRY MORE THAN 20000/-

THANKS
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
15 November 2011 Expenses beyond Rs.20000 cannot be paid as cash. if paid it will be disallowed u/s.40A(3). Insurance also need to paid by a/c payee cheque only
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Vinoth

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Vinoth (Expert)
16 November 2011 Insurance charges means what?
If you paying as premium, it is adviseable to pay in cheque only
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