Rent and security deposit paid in cash
This query is : Resolved
29 June 2016
Can we pay rent and security deposit in cash. Security deposit is Rs 40,000 and Rent is Rs. 10,000 pm?
29 June 2016
you can make below Rs. 20000/- in a day to a person. if you doing business then this exp. will not allowed you are paying Rs. 10000/- PM rent then no problem.
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29 June 2016
the person receiving deposit in cash will be liable under 269SS. You can pay deposit and rent in cash provided rent payment does not exceed 20000/- if you are using premises for business purpose and claiming expenses. If you use premise for residential purpose then no such limit for rent paid.
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29 June 2016
Thanks
Tenant is Pvt ltd co. So in case of security deposit in cash rs 40,000 any issue regardng income tax and company Act
Tenant is Pvt ltd co. So in case of security deposit in cash rs 40,000 any issue regardng income tax and company Act
29 June 2016
Landlord is individual
30 June 2016
Landlord is receiving deposit thus he may be liable. In companies act there is no restriction.
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