Cash payment to imprest a/c

This query is : Resolved

CA Abhishek K. Singh (Querist)
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22 February 2011 if cash more than Rs 20000 is paid to imprest a/c and the payment made by him is not given than sec. 40A(3),269SS or 269t anyone of them is applicable or not

CA Punit

CA Punit (Expert)
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22 February 2011 cash given for petty cash or imprest purpose is not actually cash spent for exense.

here cash remains within the business only..
so no sec 40A(3),269SS or 269T applicable

S.A.BADAMIKAR

S.A.BADAMIKAR (Expert)
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22 February 2011 Dear Abhishek : You can make payment to imprest account above Rs. 20000/-, but as per my opinion payments from imprest account must not cross the limits, (if payments from imprest crosses the limits then 40A(3), 269SS & 269T will come in picture)

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Guest

Guest (Expert)

22 February 2011 Good advise from both experts.