Salaries >10K
This query is : Resolved
18 November 2019
Can we give Consolidated wages or Salaries by cash >10K ? if we can give at what section applicable in Income Tax.
18 November 2019
Restriction on cash payment of Rs.10,000/- per day is only one person or against one person bill. If payment is made towards wages for more than one person for Rs.10,000/- it will be allowed provided the following to be attached to substantiate the payment .
1. List showing serial no , name of the person and amount to be prepared.
2. The receiver signature to be obtained against that person and revenue stamp to be affixed if the payment is Rs.5000/- or more.
3. The heading should be on the list like wages paid from... to ... on ...
1. List showing serial no , name of the person and amount to be prepared.
2. The receiver signature to be obtained against that person and revenue stamp to be affixed if the payment is Rs.5000/- or more.
3. The heading should be on the list like wages paid from... to ... on ...
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