Cash salary more than 20000
This query is : Resolved
22 May 2014
Hi
if we paid salary Rs 23000 to employee in cash then it is disallowed under income tax for deduction..but if we divide it in two parts( salary for june total 23000 and showed in accounts on 15.06.13 - 13000 and on 20.06.13- 10000) ...then pls tell me it is allowed or not..??
Guest
Guest
(Expert)
23 May 2014
yes you can give in cash in two parts.......
23 May 2014
You can give it in one part too, as salary can be paid in cash, there is no rule reagrding salary cash payment.
23 May 2014
you can not give any amount claimed as expenses in cash exceed rs. 20000/-
and also it is better to pay all expenses by cheque. it is give you benefit when you face income tax scrutiny.
and also it is better to pay all expenses by cheque. it is give you benefit when you face income tax scrutiny.
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