14 May 2011
Please let me know if a payment is made in cash exceeding Rs.20000 for buying material for own residential house to same person in a year is legal? (if not considered as expense deductible from income)
14 May 2011
it is drawing disallowed in section 37 so no question of deductibality and it is not illegal u can purchase in cash for other than business purpose
CAclubindia
