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payment of salaries in cash

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 May 2010 Few of the employees have insisted on payment of salaries in cash, which exceeded 25000 per month. In a month or two even Director of the company insisted for receiving salary in cash, since he had to make some personal purchases . Can we pay salary in cash in a single day for more than 20000. Kindly guide. This is urgent please.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
02 May 2010 Payment of Salary in cash more than Rs.20000/- will attract Sec.40A(3)
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
03 May 2010 AGREE WITH EXPERT
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kartik_somu

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kartik_somu (Expert)
03 May 2010 agree with expert

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