Payment above 20,000
This query is : Resolved
22 March 2012
If i buy raw material of Rs. 50,000 and i pay rs 19000 , 19000 and 12000 in 3 different days in cash then whether it is allowed under income tax act or it will be disallowed?
22 March 2012
Nothing will be disallowed as payment in a single day does not exceed Rs. 20000.
22 March 2012
Agree with Ms. Richa
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