Payment in Excess Of Rs 20,000/- in Cash
This query is : Resolved
30 August 2009
1.A purchaser of goods make payment to creditor by direct deoposit of cash in excess of Rs 20000/- at one time in a day in the Bank A/C of creditor.
Is there any violation of any section as per ITax & what will be the consequences.
Thanks in advance
Is there any violation of any section as per ITax & what will be the consequences.
Thanks in advance
30 August 2009
As per Rule 6DD AND u/s 40(a)(3) It is Disallowed
30 August 2009
It would be a disallowed expenditure.
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